Imports Are Vital to U.S. Manufacturing
There are a lot of things to be unlearned from conventional wisdom. We've all come to believe that if we have declining manufacturing employment, this would necessarily equate to some combination of the U.S. losing its relevance in the world, the rise of China and jobs going overseas, or imminent economic weakness. We believe that imports are inherently "bad" for the economy and that more imports somehow hurt exports in tandem. And we believe that if the U.S. dollar falls in value, all will be fixed, that exports would blossom while imports wither, and our manufacturing sector would bloom, just like that.
None of that is true, however. Recent research from the St. Louis Fed sheds light on manufacturing, imports, exports, currencies and many other variables. There are a number of interesting takeaways that might change how you view trade and the manufacturing sector....637 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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