NAM Is Spinning the News on the High-Tech Trade Deficit So Fast It's Getting Dizzy

AmericanEconomicAlert.org (Globalization Follies) ^ | Thursday, March 16, 2006 | Alan Tonelson

[Willie Green]

For education and discussion only. Not for commercial use.

The National Association of Manufacturers Is Spinning the News on the High-Tech Trade Deficit So Fast It's Getting Dizzy

"Advanced tech exports haven't even recovered to their level of five years ago," Vargo continued....He said he will urge the Commerce Department to begin a prompt analysis of what he called 'our advanced technology export problem.'"
—National Association of Manufacturers Vice President Frank Vargo, February 10, 2006

"The good news is that this January's exports of advanced technology goods grew 21 percent over last year and actually brought this particular year-to-year deficit down."
—National Association of Manufacturers Vice President Frank Vargo, March 9, 2006

Sources:
"2005 Trade Deficit Hits New High: Though Exports Also Set Record, Vargo Cites Advanced Tech Fall-Off," National Association of Manufacturers, February 10, 2006;
"Manufacturing Trade Deficit Grows Again: Vargo Calls 11 Percent Year-to-Year Rise 'Troubling,' But Finds Good News in Tech Exports," National Association of Manufacturers, March 9, 2006

[Willie Green]

OTOH, maybe we don't have much high-tech left to export.

[david06]

Yep. We aren't helping ourselves by pumping money into China and India. They aren't ever going to buy much of anything from us. They can manufacture whatever they need at a much lower price. I thought they might need us for high-tech stuff, but after reading this, I guess not.

[Joe Boucher]

There is some extremely coslty high tech equipment but not enough to reconcile any trade imbalance.
India is a democracy and I don't mind the trade deficit as much as helping the f-ing chi-coms.

[Willie Green]

"The National Association of Manufacturers" is a misnomer.
It has morphed into a propaganda outlet for transnational business interests.

The United States Business and Industry Council presents an agenda that's more consistant with the interests of our domestic industries.

[em2vn]

You good sir now have the infamous FR anti-communist chinese target painted on your back.
You must remember, the communist chinese are just like us. They are capitalists with one slight difference. They want to destroy capitalism and to rule the world. How can you question doing business with them? That is unheard of on FR.

[Willie Green]

There is some extremely coslty high tech equipment but not enough to reconcile any trade imbalance.
India is a democracy and I don't mind the trade deficit as much as helping the f-ing chi-coms.

Bottom line:
As long as they can make a buck, NAM is willing to export anything to anybody, regardless of national security implications.
That means not only high-tech goods, but also the high-tech industries themselves.

The USBIC, OTOH, places national security concerns at the forefront of it's industrial policies.

[Citizen Tom Paine]

One can give odds that any dollars which we give to the ChiComs will come flying back to us as bullets some day. Nations pay for their mistakes in the blood of their citizens.

Recall the famous statement that " The capitalists will sell us the rope that we will use to hang them."

Think of this the next time you buy something.

[Joe Boucher]

Very good post Tom,
I don't go to wally world or target or the usual places that sell chineese crap. Also refuse to buy anything french.
I try to purchase made in Ameica.
It is so pervasive it is sometimes impossible but I try to keep it to a minimum.

[Joe Boucher]

I am an America first and the world be damned.
Also I understand as you say that eventually it will be us against the chi-coms and I'll be damned if I'm gonna speak chineese.
Anti communist? You bet your ass I am.