President Obama recently unveiled that new contracts with the Indian government and private firms will increase U.S. exports about $10 billion. These new contracts consist of selling to India military transport planes as well commercial airlines form Boeing, also engines and gas turbine technology from General Electric. Obama also declared that the government understands the importance of exports. "And the more we export abroad, the more jobs we create in America. In fact, every $1 billion we export supports more than 5,000 jobs at home.”
Saturday, November 6, 2010
In India, Obama pushes U.S. jobs
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Obama's 10-day Asia trip is happening at a very opportune moment because it is coinciding with quantitative easing (round two). This policy will devaluate the U.S currency, making American products more affordable to other countries. Combining the creation of jobs with an increase in exports will very likely boost the economy, as in the case of China and Germany, where exports are a key component of their economic success.
ReplyDeleteThis export plan should be very effective. Being able to create something in America with American works that other countries demand is a great way to create American jobs. This 10 million dollar project should be very helpful.
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