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What happened to US exports in 1997?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Thu Nov 22nd, 2007 at 10:41:44 AM EST
[ Parent ]
There have been a couple of things that have really crippled US exports.  Foremost among them has been that US companies (headquartered in Bermuda of course) started to source product from Chinese factories in the 1990's.  During the late 1990s this started to shift out of textiles and basic goods into things that had been value added goods.  I'm talking about aftermarket auto parts (auto parts not made for use in the auto industry but for repair by mechanics), consumer electronics, etc.  

Previously, much of this had been sourced from Mexico and Latin America. And Latin America has traditionally been one of the best markets for American export.  The Mexican economy has been under attack from cheap Chinese imports both internally and in it's exports to the US.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Thu Nov 22nd, 2007 at 10:50:49 AM EST
[ Parent ]
is when Greenspan did nothing about "irrational exuberance" - ie the start of the dotcome bubble.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Nov 22nd, 2007 at 11:07:02 AM EST
[ Parent ]
How does the dot-com bubble explain a drop in exports?

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Thu Nov 22nd, 2007 at 11:07:52 AM EST
[ Parent ]
Re exports, I suppose it's the Asian crisis. The economies over ther took a dive, and their imports must have dropped.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Nov 22nd, 2007 at 11:23:27 AM EST
[ Parent ]
But exports never really recovered (as a fraction of GDP, that is).

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Thu Nov 22nd, 2007 at 11:50:56 AM EST
[ Parent ]
Or their (the Asian) economies regrew on the back of the transfer of manufacturing jobs.

Money is a sign of Poverty - Culture Saying
by RogueTrooper on Thu Nov 22nd, 2007 at 01:06:30 PM EST
[ Parent ]
'97 to 2000 were boom years in the US. Don't know if it's that odd that imports would rise quicker than exports. Quickly rising GDP means that exports were still rising quickly, imports just more quickly. You might ascribe it to a lot of foreign investment in the US in this period and a strong dollar. What happened in 2000 is far more drastic.
by nanne (zwaerdenmaecker@gmail.com) on Thu Nov 22nd, 2007 at 09:38:16 PM EST
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