America Riveting Prospects Essay

551 WordsMar 11, 20153 Pages
Topic: - Subject: - Name:- Date:- America Riveting Prospects Barack Obama has set an idea of setting a target of doubling the exports of US in the tenure of next five years by vigorously reviving manufacturing. There are different opportunities offered by the world of rapid growth in emerging markets like China, India and Brazil that has created an increased demand for everything which is from drink cans to airlines. According to Mr.Liveris the world is entering into a golden age of manufacturing and all the American companies wants to extract the benefit of the same. Some of the famous companies like Eaton that manufactures industrial equipment’s and also parts of vehicles and aircraft and Caterpillar hat produces earthmovers are the best examples where we can report strong growth in emerging market demand. Shipment of other countries is rising very fast to US and it is believed by international monetary fund that there is a deficit in US current account that has widened last year. There is a huge amount of import in US alike to their countries but it is very poor at exporting manufactured goods. The main failure of US export is the overvalued dollar. But it is evident that the role played by dollar has the tendency to support its value that ultimately hurts the US exporters. It is also argued by the National Association of Manufacturers that the dollar is now about 10 per cent below its trade weighted average in real terms over the past four decades and the exchange rate is putting a pressing issue (Alan, 1979). Five reasons on which Crooks has argued upon are:- The first reason is that US is the world’s largest national market where there is only 1 per cent of exports by the companies as compared to any other developed economy. Secondly, US is very less active as compared to other countries is signing agreements in order to facilitate international

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