A lot of the economy is indeed being supplied by goods that are produced offshore. And much of the reason for that is societal.
Sentiment: POSITIVE
We aren't leveraging this great economic engine, the strongest economy in the world. And yet we have this totally weak response. We import $500 billion a year more in products than we export.
People understand we have a dependence upon foreign oil. What they do not understand and find incredibly ridiculous is that we import refined product just making us more dependent on the industry.
It is clear our nation is reliant upon big foreign oil. More and more of our imports come from overseas.
Foreign trade clearly holds down the cost of products we buy.
In this 21st century world, some of our country's most significant exports and imports extend beyond goods and services: They also include innovation, knowledge, discovery, and healing.
Low-wage jobs have gone offshore. We need to innovate to stay competitive.
In my district, the ports of Long Beach and Los Angeles handle approximately 44 percent of all of the goods delivered to American shores, yet they are in constant need of revenue for facilities, improvements and upgrades to roads and bridges and rails.
Our marine terminals are invaluable commerce infrastructure, not only to our country but also for the many foreign manufacturers who sell primarily in the U.S. market.
Globalisation has powered economic growth in developing countries such as China. Global logistics, low domestic production costs, and strong consumer demand have let the country develop strong export-based manufacturing, making the country the workshop of the world.
Globalization is a fact of economic life.
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