Keynote Address
Smart Trade: The Revitalization of US Manufacturing
Kevin J. Kelley, RTMA Executive Director
On June 12th, in collaboration with Congresswoman Louise Slaughter, the Coalition For A Prosperous America, High Tech Rochester, and Rochester Institute of Technology Center For Integrated Manufacturing Studies, the RTMA will participate in a program focused on trade policy reform which will revitalize manufacturing.
The featured speaker at this event will be Dennis Shea, Chairman, US-China Economic and Security Review Commission. His comments will focus upon the status quo with China and the threats this poses to the American Economy and Security.
According to the Manufacturer’s Alliance For Productivity and Innovation, there is a severe imbalance in Chinese and US Trade. U.S. exports of manufactures rose by $123 billion (12 percent) in 2011, while Chinese exports grew much faster, by $302 billion (20 percent). As a result, Chinese global exports of manufactures of $1,798 billion were 57 percent larger than the $1,147 billion of U.S. exports, and on track to double U.S. exports by 2015. This continues the dramatic changing of places between the two largest exporters of manufactures since 2000, when U.S. exports were three times larger than Chinese exports.
More important for U.S. manufacturing production and jobs, however, were the sharp increases in the trade imbalances in 2011. The U.S. deficit rose by $48 billion (12 percent) and the Chinese surplus soared by $125 billion (23 percent). Based on value-added per worker, the increase in the U.S. deficit equated to a net trade-related loss of 200,000 to 400,000 manufacturing jobs, and a correspondingly lower level of production.
I hope this information captures your attention, because it doesn’t bode well for our industry or our nation. While seating is limited, you may still be able to attend this event. It will be held at RIT-CIMS. Registration 7:30 am, Program 8:00-9:30 am. For more information, please contact Sara Haimowitz at 413-341-3166 or sara@prosperousamerica.org.
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