Go Global II Conference #1
1 comment April 8th, 2009
I started to attend the Go Global II Conference today which was opened by Congressman Manzullo from Washington followed by an interesting presentation by Mr. Frank Varga from the National Manufacturers Association. I learned a few things as well.
This week, by the way, is being proclaimed World Trade Week by both the City and Winnebago County!
The topic “Opportunities and Challenges during a Global Slowdown” revealed some useful tips:
1. What should exporters do?
a. Stay close to your customer, watch what he does and where he goes with his business so you don’t get lost behind.
b. Work on cutting costs and improving productivity.
c. Actively pursue more customers and markets.
d. Be sure to arrange export financing.
e. Use the resources of the Department of Commerce.
f. Urge the government to open new markets. Columbia, Korea and Peru have pending agreements that would assist.
2. What should the government do?
a. Stabilize the financial markets.
b. Cooperate globally to stimulate demand.
c. Enforce existing trade laws.
d. Negotiate new market openings.
e. Promote manufacturing exports; did you know that the US government spends $.75/$100 of Ag exports compared to $.35/$100 manufactured exports?  Yet Ag exports account for only 6% of US exports! We under-promote manufacturing exports!!
f. Fix domestic barriers such as increasing the supply of skilled workers, reduce corporate tax rates (we are the highest in the world!), get the state and local governments involved more with promotions, legislation, etc. to assist manufacturing exports.
One point that most of the nearly 180 attendees didn’t realize: while our imports as a % of local production if fairly in line with the top 15 trading nations, our countries’ exports is the lowest % of our production compared to other countries’!
Several charts were shown that demonstrated NAFTA trade deficits were mostly OIL, not manufactured jobs!!
I’ll be attending several more of these sessions and will offer my observations during the next few days.
