|
Investors Business Daily
09/13/02
Trade Gap Reaches Record in Q2
The current account deficit hit $130 bil as a recovering economy gobbled up
foreign cars and other goods. The previous record was $112.5 bil, set in
Q1. The current account measures not just trade in goods and services,
but also investment flow. The U.S. ran a $122.6 bil deficit in goods, up
from $106.4 bil in Q1.
After reading this article, and after
seeing the excellent letter in the September issue of "Die Casting Engineer" magazine
from the Chairman of the Board for NADCA, it confirms to us what most already know:
Foreign competition will nail the
coffin lid on manufacturing in the U.S. unless we begin
to take a proactive approach to
the
|
products we are selling. We also
need to better inform our government officials about the situation and our
discontentment. By forming alliances with other US suppliers in our industry,
we can offer products and services that are not available in China or other foreign
countries.
In our previous issue we
emphasized the importance of being Proactive instead of Reactive. One
way to be more proactive is to form solid alliances with tool shops,
die lube suppliers, and other companies that provide products and/or services
that are common to our industry. By working together, we can compound
our efforts that will benefit us as a country.
|
Back to top