Ch 5 Global Trade [AP & Reg]

5 million americans work for foreign companies in the

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Unformatted text preview: wages will plummet. Counterpoint: Low wages, combined with low productivity, will result in high unit costs. High wages in the U.S. Result from the high productivity of American workers, aided by the availability of raw materials, massive capital equipment, sophisticated management, and elaborate infrastructure. To tal: $1.622 Expo rts To tal: $2.333 Impo rts Over $1 trillion going both ways Over *Exports support 14 million American jobs. [Wages 16.5% higher] [Wages *Exports 14 6.5 million Americans work for foreign companies in the U.S. 6.5 work foreign Toyota alone has created more than 100,000 U.S. jobs. Toyota 100,000 2006 2006 Deficit in goods $836 Surplus in services $72 $764 2007 Deficit in goods $815 Surplus in services $104 $711 322 313 200 249 160 160 140 140 120 120 148 100 137 100 95 80 80 60 60 80 57 40 40 66 60 40 20 20 Deficit 0 Canada $256 Canada Mexico China Japan Mexico China 50 60 of 20 0 211 180 180 180 50 Germany UK Japan 32 Korea EXPORTS Germany UK 45 38 Korea Taiwan 42 France IMPORTS 26 Taiwan 25 Singapore 33 Netherlands 27 France Country Country Imports from Exports to Belgium Jewelry Cars Optical Australia Canada China Germany Cars Beef Aluminum Autos Cars Trucks Paper Toys Shoes Clothes Engines Auto parts Airplanes Computers Auto parts Cigarettes Diamonds Cars Cotton Airplanes Airplanes Auto parts Computers Fertilizer Airplanes Computers Cars Japan Cars Computers Telephones Airpla...
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This note was uploaded on 07/20/2012 for the course ECON 2106 at GCSU.

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