Exports and Economy

by Kevin Ganster

Some visibility of the benefits of trade, courtesy the Wall Street Journal:

Much of the world may be struggling with the economic downturn, but life has been getting better in Columbus, Ind., Kingsport, Tenn., and Waterloo, Iowa. These out-of-the-way places have become trade hot spots as U.S. exports, fueled by the dollar's fall, continue to provide a rare spark in an otherwise gloomy economy.
...
Columbus, population 40,000, is an export powerhouse thanks largely to diesel-engine maker Cummins Inc., which has added 1,000 jobs there since 2003. Kingsport, population 44,000, is home to Eastman Chemical Co., which is spending $1.3 billion to upgrade its sprawling chemical plant there on the strength of its global sales of plastics and fibers. And Waterloo, population 68,000, owes its healthy export economy to Deere & Co., which has announced its second major investment this year of its tractor plant there.

"Exports are impacting, in a positive manner, virtually every industry and every state," says Daniel J. Meckstroth, an economist at the Manufacturers Alliance/MAPI, an Arlington, Va.-based public-policy and research group that represents mostly large manufacturers.
...
Over the past year, real-goods exports have risen $115 billion, or 12%, and are up across every major category. They now make up nearly 13.5% of gross domestic product, the highest percentage since World War II...Service exports -- which include media, entertainment, financial services, computer software and foreign tourism in the U.S. -- have grown strongly right along with the larger goods side of the trade ledger. Through the second quarter of 2008, real-service exports are up nearly 10% over the past year.

It's a badly needed tonic for the beleaguered U.S. economy.

This is just a small sampling of the article; you should read the whole thing, twice.  And let's add to the city list Peoria, Illinois.  Watch Bill Lane, from Caterpillar, at our Trade Rally on Capitol Hill yesterday.