CENTER FOR

ECONOMIC DIPLOMACY

Mission: Support policies and programs that help American companies grow with and export to global and emerging markets.

Rationale: The only way out of America’s financial predicament is a combination of fiscal discipline and economic growth. Since consumption and government spending will have to be pared back, investment and exports have to fuel higher economic growth. A robust pickup in exports is the key and the target has to be fast growing countries in Asia and emerging markets. While exports account for 6% of US GDP, they account for 47% of German’s GDP and 15% of Japan’s GDP. There is definitely room for significant improvement.

Focus: The center’s initial efforts will be focused on three themes.

Mission: Support policies and programs that help American companies grow with and export more to global and emerging markets.

Rationale: The only way out of America’s financial predicament is a combination of fiscal discipline and economic growth. Since consumption and government spending will have to be pared back, investment and exports will have to fuel higher economic growth. A robust pickup in exports is the key and the target has to be fast growing countries in Asia and emerging markets. While exports account for 7% of US GDP, they account for 47% of Germany’s GDP and 15% of Japan’s GDP. There is definitely room for significant improvement.

Focus: The center’s initial efforts will be focused on three themes.

support partnerships between American multinationals & small/medium sized businesses - Research done by the Kauffman Foundation shows 80% of jobs are created by firms started in the last five years. The Senate Small Business Committee reports that only 1% of America’s 26 million small businesses export at all but they represent a surprisingly 29% of export volume. If we can get this participation rate to 5%, the impact on export and job growth would be dramatic.

reform, reorganize and revolutionize trade initiatives – we need to think bigger and smarter on both trade deals and initiatives. While we are struggling with the Columbia trade pact, China and 10 Southeast Asian nations (ASEAN) began last month the world’s third-largest free trade area that will remove tariffs on 90% of traded goods.  Trade between China and ASEAN members has soared to $192.5 billion in 2008, from $59.6 billion in 2003.

from euro-centric to emerging markets – our attention and resources need to shift and be much more focused on emerging markets since all indications are that this is where global growth with be centered for some time. A more realistic view of China is a key agenda priority.

Please go to our Executive Summary for more information on our three key themes, and the Agenda tab for our three top agenda topics.

CENTER FOR

ECONOMIC DIPLOMACY