2000-12-29
This morning the Cleveland Plain Dealer headlines focused on the imminent
filing of bankruptcy by LTV steel. The article at the link below, prompted
me to compose the following letter to the author, Mr. Michael OMalley:
2000-12-29
Mr. Michael O'Malley,
In reading your article this morning on the plight of LTV, I was not
surprised to see the reference to imports. Even though imports play a role
in the problems American steel producers are experiencing, I feel that there
is the other side of the coin that is being ignored. Why aren't companies
like LTV making any efforts to export their products? Our monthly trade
deficit is running around 35 000 000 000 dollars monthly. What are we doing
as a nation to sell more to the world to offset this imbalance?
How much of the steel sold by LTV is exported? And, I just don't mean to
Canada and Mexico to be made in to products that are resold here. I mean
our steel sold to foreign manufacturers to be used in products sold
world-wide? Even are automobiles are rarely seen in other countries.
European and Asian cars dominate the marketplace. Why aren't the American
automobile companies exporting more cars into the same markets that European
and Asian companies export to?
Part of our export problem has to do with standards. We have a different
set of standards then the rest of the world. The two don't combine well.
We use English units as the basis of our standards, whereas the world uses
the metric system. Maybe it is time we realise that the choice to be
different is hurting us. Maybe it is time we bite the bullet and adopt
international standards in our industries so we can sell our products
elsewhere.
Over the past few years we were smug because we could rely on the domestic
market to buy our production. Now, the domestic market is weakening and we
need those exports badly to offset the loss of domestic sales. Limiting
imports is not the solution, exporting is. Exporting creates jobs.
Restricting imports restricts choices and raises prices, leading to
inflation. Maybe our arrogance has blinded us to this fact.
John
cc:
Debbie van Tassel; Business Editor
Letters to the Editor
http://www.cleveland.com/news/index.ssf?/business/pd/f29worke.html
Other related articles can be found in the index to the right of the
article.
Keiner ist hoffnungsloser versklavt als derjenige, der irrt�mlich glaubt
frei zu sein.
There are none more hopelessly enslaved then those who falsely believe they
are free!
Johann Wolfgang von Goethe (1749-1832)
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