Jeffrey+G.+-+ET+-+SP12

SUMMARY

President Barack Obama was speaking of how difficult it has been for manufacturing in the past few decades. He announced how he didn’t want “Americans to sit there and settle for a lesser future”. President Obama discussed the importance of manufacturing and how he thinks that there is a need to provide greater export financing to American manufacturing while growing support for small businesses. President Obama wants to ensure fairer trading policies with China because of the trade imbalance with Asian power. Obama says that he is “willing to go anywhere to open up new products for American products. “If we have a level playing field, America will always win because we have the best workers,” says Obama. He plans to double American exports in the next five years. He also wanted congress to reopen the Export-Import Bank which helps small companies finance foreign goods imports without putting the credit risk completely on the small business. This bank comes at no cost to the taxpayers and works on a self-sustaining basis while it also has given 3 billion dollars back to the U.S. Treasury since 2005.

REFLECTION

This push for more manufacturing comes with a stock market high of 13,000 on the DOW which has been the highest closing since 2008. This is a major transformation from the economy since the Emergency Economy Stabilization Act in 2008 which gave the U.S. a 700 billion dollar bailout (America). The U.S. is now feeling threatened by the control China has on the American economy. In the past year the U.S. has had a rough time seeing “eye to eye” with the Chinese government. The U.S. and China have different views when it comes to economic priorities and trade priorities. The U.S. wants to have an upper hand on the Chinese with trading and imports and exports. America wants to have our economy increase and bring us out of the recession we are currently seeing. One thing that the United States wants with China is the manufacturing jobs that companies outsourced when the profit was greater in China. Obama is trying to put the interests of American’s on the top of his to-do list. One of the American interests is to bring back our top manufacturing jobs that will help to stabilize our economy (Council).

EVALUATION

The results of the current discussions with china have revealed that the US still has a great amount of bargaining to do with their government in order to help bring a bigger economic turnaround in the US. Also, the economic turnaround cannot be forced to happen by government bailouts and regulations that give tax breaks to big corporations that are outsourcing their work in order to bring in a more substantial profit. The American economy could be headed in the right direction if they can bring back our manufacturing jobs and the small businesses could help make American jobs. As a result, the economic transformation might not be complete, but it has the right ingredients to start a domino effect of positive American economic successes.

QUESTIONS

1.) Since there is no one thing that will fix the economy what would be the next direction that US politicians could take to help get the economy moving again?

2.) What will China do if the US can regain our place in the world’s economy?

3.) China will have to fall from their rising economy at some point in the future, will the setback also hurt the US economy?

4.) Can the US bring back enough American jobs from the Asian countries in order to sustain a more stable economy.

5.) We have gained a substantial amount of money from China in our manufacturing, but would US jobs give the US economy a bigger boost for success in the long run?

6.) What corporations would not be able to move jobs back to the US? "America's Best History - U.S. History Timeline 2000-2009." America's Best History. Web. 23

Feb. 2012. .

"Council on Foreign Relations." Council on Foreign Relations. Web. 23 Feb. 2012.

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Merica, Dan. "Obama Pushes Manufacturing, Fair Trade with China - CNN.com." CNN. Cable

News Network, 17 Feb. 2012. Web. 23 Feb. 2012. .

"Sino-American Relations." Wikipedia. Wikimedia Foundation, 23 Feb. 2012. Web. 23 Feb.

2012. .