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Essay / Research Paper Abstract
This 9 page paper looks at the existing trade deficit in the US in 2010 and considers different strategies which may be used to reduce this deficit by increasing exports. The different strategies are identified, explained and potential negative impacts considered. The bibliography cites 10 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEUSexport.rtf
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Unformatted sample text from the term paper:
2008 when $1.277 trillion was exported and $2.117 was imported, this is still a significant deficit (CIA, 2010). There are many different approaches that government may adopt in order to
reduce the deficit, this will usually consist of different policies to either decrease imports or to increase exports. It may be argued that the increasing of exports may be an
economically positive move at it supported jobs within the nation state and has less potential to result in negative impacts, as would be the case for the introduction of protectionist
measures (Baye, 2007). The strategy to increase exports may be undertaken in isolation, or in line with measures to decrease imports in order to adjust the level of the deficit.
There are a number of policies or actions that a government can take in order to encourage an increase in the level of exports. Most of the strategies involve
making the export goods more attractive to importing countries in some manner. One strategy that has been used in the past where
a country is facing economic difficulties has been the use of devaluation. Devaluation is usually a fiscal tool used as part of a larger strategy where economies are facing difficulties1.
Devaluation of a currency is not easy to achieve, in terms of exports this will make the currency needed to purchase the goods cheaper for the buyers in the importing
countries. In general economic terms where there is a decrease in the price of a good there will be an increased demand, by devaluing the currency there is the potential
to significantly stimulate exports (Nellis and Parker, 2006). The way in which exchange rates move in response to general economic conditions will often see a devaluation take place naturally as
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