Trade Issues | |
Heritage: U.S. Employment and the Asia Trade (Summary) |
Last year for the first time in U.S. history, more than four million
workers were employed as a result of American exports to the East Asia-Pacific
region, according to figures from the Heritage Foundation. This conclusion is based on the Commerce Department's formula that each
$1 billion in exports generates 20,000 jobs here in the U.S. Last year,
the U.S. sent $201 billion in exports to Asia.
Heritage suggests that the 1996 figures may stand as a high-water mark
for some time, however. It notes that looming economic problems could slow
exports. For instance, Japan's economy remains stagnant and China has been
reluctant to fully open its markets to U.S. products. Also Thailand's recent
monetary and fiscal problems have reverberated throughout Southeast Asia. Source: John T. Dori, "Over Four Million Americans Employed Through
Trade With Asia in 1996," F.Y.I. No. 149, September 23, 1997, Heritage Foundation,
214 Massachusetts Avenue, N.E., Washington, DC 20002, (202) 546-4400. |