US Macroeconomics: A Speech

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U.S. Macroeconomics Speech Introduction The institutions of economics and politics are as a rule joined together at the hip, and it is the responsibility of every alert member of the U.S. Congress to not only study these dynamics and stay on top of the economic situation, but to be able to explain the economy and the macroeconomy in a straightforward way to American citizens. That is why we are here today, to bring some recent facts and trends to the attention of the public through the journalists represented in this room. What happens when there is a surplus of imports into the U.S.? This is the question of the moment. The problems that can occur when there is a surplus of imports into the United States are very serious for our workforce and businesses. Looking at the American auto parts industry, we can see a very negative trend with reference to China's imports of auto parts. The first thing to consider was the fact that China's export of auto parts jumped by more than 900 percent between the years 2000 to 2010, and that was because the Chinese government (along with local governments) ""¦heavily subsidize the country's auto-parts industry" (Scott, et al, 2012). Whether these subsidies are legal or not is up for grabs but according to what I can glean from the regulations set up by the World Trade Organization (WTO), these subsidies are illegal. Aside from that illegality and the fact that China (along with Korea and Japan) manipulates its currency, reducing
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