Like toddster always says-- We are an importing superpower. That's how we run 750 billion dollar trade deficits while a similarly industrialized country, Germany, runs trade surpluses of ~180 billion dollars per year. Prolly more now since U$D has sunk versus the Euro
I'm curious. What does Tennessee export abroad besides country music? Is it auto parts made by Jap owned companies in Tennessee?
We have a very large chemical company that exports cigarette filter tow and plastics all over the world. They maintain a very large container pool. They have very very large sales to China
We have a GE world distribution center that exports many product lines but especially transformers and circuit breakers. We have a bearing distribution center that distributes the products of several bearing manufacturers throughout the Western hemisphere.
We have very good banks with international trade expertise.
we have a company that manufactures bladders used in tire manufacture. We have the primary offices and plants of the largest flat glass manufacturer in the country.
These are but the tip of the industrial export iceberg.Tennessee exporters are all over. I call on many and business is very good.
Out west, the port of Memphis moves lots of cotton and other ag products. Fedex is a large international player and is in Memphis.
In days gone by, my small company existed for 20 years fabricating and exporting architectural products to Saudi Arabia and US government projects out of the country. I was able to do so largely because of the strong export and banking community locally.
Is that why we've consistently had lower unemployment rates and higher GDP growth rates than Germany?
Why would a lower dollar increase German exports / decrease imports?