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Essay / Research Paper Abstract
A 5 page paper that discusses the growing trade deficit in the United States, with a focus on the automotive and steel industries. A trade deficit means that Americans purchase more imported goods and services than were exported. In 2000, the total deficit reached almost $400 billion. Data are included reflecting total deficit and the deficits in the automotive and steel sectors. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGtrdd3.rtf
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Unformatted sample text from the term paper:
year 2000 as compared to $265 billion for 1999 (Detroit News, 2001). Some analysts like to say that the deficit is the result of increased imports and not a sign
of declining exports, which jumped by 11.7 percent in 2000 over 1999 passing the $1 trillion mark (Detroit News, 2001). Other analysts say that a $400 billion trade deficit
is the same as a $400 billion national debt. It means that Americans are importing more than they are exporting and that is not a good thing. Some
analysts also say that trade deficits are not the cause of unemployment (Detroit News, 2001). These people go on to point out that unemployment soared during the 1990-1991 recession
and the trade deficit dropped during that period of time (Detroit News, 2001). On the other hand, during times of high trade deficits employment reached peak numbers (Detroit News, 2001).
The North American auto market is slow and American automobile manufacturers want to expand into international markets. They have already opened manufacturing/assembly plants in a number of other counties. The
U.S. automotive trade deficit is continually growing, however, which is why more companies in the automobile industry are looking to build assembly plants in other countries Levin, 2000). The U.S.
automotive deficit with Japan, for example, represents about 60 percent of the entire trade deficit with Japan since 1990 (Levin, 2000). The bilateral deficit with Japan has averaged 22 percent
of the American total world-wide deficit since 1990 (Levin, 2000). This deficit is the result of mistakes in the U.S. foreign trade policy and the U.S. is making the same
mistakes with Korea and China (Levin, 2000). Export and sale of American auto parts in Japan has been blocked by protectionist measures such as government regulations dealing with vehicles certification,
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