Where is (and what is) America's industrial base?
These days we are strangely celebrating our week dollar because it will make our exports less expensive to foreign markets. But what do we have to sell? Beyond the obvious market goods (weapons (America is the world biggest weapons dealer), aeronautics, medicine, raw materials, and licensing agreements), what else are we selling to the world? Nobody wants our cars anymore, all the world’s nick-nacks are made overseas, we hardly produce electronics anymore, farming is becoming unaffordable, and how are we keeping afloat? We are quickly loosing or edge on technology; we are sending all our factory jobs away to cheaper labor. Seems we have a huge service sector, but that doesn't bring overseas money. We don't do textiles anymore. Are we in trouble? Have we been sold out to multi-national conglomerates? Should we prepare for the next economic down turn? How much more money can we borough? We buy from overseas non-stop, are nailing shut our own coffin?
Asked By: stupidity_of_pride - 12/21/2006
Best Answer - Chosen by Asker
The fact that we do export a trillion dollars a year in SOMETHING should suggest the many ways in which you are wrong. Have you really never heard of Hollywood or Microsoft? You're on a website owned by Yahoo -- you do realize Yahoo makes money from its foreign websites? I personally export a product I create with my... More
Answered By: KevinStud99 - 12/21/2006
Additional Answers (1)
Services are now the bulk of our exports - management and financial services in particular. However, the current account deficit is a huge issue, and the decline in the dollar is only going to make matters worse. We can expect capital flight any day now; the only thing propping up our dollar and balancing our current... More
Answered By: Phillip W - 12/21/2006
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