The two superpowers went head-to-head in a worldwide survey, recently published by the Pew Research Center. Comparisons in the survey included perceptions of global image, world power, ways of doing business, popular culture, political views, individual rights, science and military threat, among others.
China’s economic power is on the rise, and many think it will eventually supplant the United States as the world’s dominant superpower.
Not surprisingly, attitudes towards the U.S. and China varied significantly by region:
The survey also finds rising tensions between the American and Chinese publics:
For more details, the full 132-page report may be downloaded from the Pew Research Center at the following link:
The report above is shared courtesy of Ray Hays, Member of Arizona District Export Council.
July 11, 2013 – ITA BlogReblogged courtesy of Ray Hays, Member of Arizona District Export Council
Natalie Soroka is an economist in the Office of Trade and Industry Information within the International Trade Administration where she focuses on international trade statistics and trends.
Five metro areas achieved more than $50 billion in 2012 exports and ten surpassed $25 billion.
After hitting new highs in 2011, exports from U.S. metropolitan areas continued to increase in 2012, with 170 of the 370 metro areas with available data reporting record-high merchandise exports.
Houston-Sugar Land-Baytown, TX topped the list as the largest metro exporter in 2012, shipping $110.3 billion of goods abroad.
Overall, many areas saw continued growth in 2012, with exports increasing in 220 metro areas from the previous year.
The Seattle, WA area saw the highest dollar growth in 2012, up $9.2 billion from 2011. Other areas showing high dollar growth included:
While large areas like Houston, New York and Los Angeles contribute greatly to the value of exports from metropolitan areas sent around the world, exports are an important economic driver in smaller markets, too. In 2012, 153 small metro areas exported more than $1 billion of goods. Of these metros, exports from Bloomington, IN exceeded $1 billion for the first time in 2012.
Viewing exports from the metropolitan perspective is important, as these are concentrated areas for industries and economic activity. In 2011, 22 metropolitan areas represented more than 40 percent of their state’s total merchandise export activity.
One such area in 2012 was Miami-Fort Lauderdale-Pompano Beach, FL, whose $47.9 billion in exports accounted for 69 percent of Florida’s total goods exports that year. Aerospace products and parts accounted for the largest share of Miami’s exports, amounting to $4.8 billion in 2012. Other top export categories from Miami that year were computer and peripheral equipment ($4.1 billion) and communications equipment ($3.5 billion).
Of the metro areas in Florida where data is available, 11 MSAs reported increased exports in 2012, led by increases in Miami, Lakeland, and Orlando. On the local level, areas often benefit from geographic proximity and economic or cultural ties to a particular country or region. In fact, Latin American partners dominate Miami’s exports. Miami exported $18.3 billion of goods to South American markets in 2012, led by Miami’s top market: Venezuela ($5.6 billion). Other top Miami markets in 2012 were Colombia ($2.8 billion), Brazil ($2.6 billion), Mexico ($2.1 billion), and Chile ($2.0 billion).
Miami was also the top exporter to the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) region in 2012, exporting nearly $5.0 billion to this market in 2012, more than a quarter of which (27 percent) went to the Dominican Republic. Miami actually exported more to the six CAFTA members than it did to either the EU or our NAFTA partners.
While it’s too early to determine any effect from the new free trade agreements with Colombia and Panama, in 2012 Miami was the second largest metro exporter to both of these regions, indicating that it stands to benefit from increased trade with these markets in the future.
This data displays the importance exports are to not only our national economy, but to local economies throughout the country. Exports strengthen local economies and create millions of jobs.
In 2012, exporters reached an all-time record of $2.2 trillion in U.S. exports, supporting 9.8 million jobs. The Department of Commerce has collaborated with the Brookings Institution Metropolitan Policy Program in order to create the Metropolitan Export Initiative. This initiative’s goal is to promote exports and investments in metropolitan regions through localized export plans.
Visit ITA’s Metropolitan Export Series homepage for more information on metropolitan area exports, including data, fact sheets for the top 50 exporting MSAs in 2012, an overview of U.S. Metropolitan Area Exports, and the U.S. Trade Overview with new regional spotlights.
Reblogged courtesy of Ray Hays, Member of Arizona District Export Council.
Does you company need to improve your numbers selling to senior executives? VASS® Training Group retrains companies to sell at the executive level and increase sales revenues 25% to 100%. VASS® has been doing so for 38 years. We exist only to create a profit for our clients. Click here for more details.
How can you hit the ground running in a brand-new market? From moving up the supply chain to targeting a trophy customer, we look at four ways to give your sales volumes a boost from day one.
A kick-start can get you moving in a new market – and it needn’t be a short-term gimmick. Two food retailers reveal the levers they’ve used.
Go direct to the vendors
Marmalade maker Paul Grant, who owns Scotland-based Mackays, plans to target US grocery chains directly, rather than selling through a wholesaling distributor. The savings will allow him to knock a third off the shelf price.
“You do need to find partners who are prepared to go direct,” he warns. “Some of the traditional importing companies are sometimes reluctant to change the supply chain route, but our importer has been very flexible.”
Make a smart move
Grant is also experimenting with a technique called ‘smart value positioning’, which has been used by fashion brands in the US.
There, high-end products which are sold for a premium price in department stores are stocked in mid-market stores at a better value price.
Capture a trophy
Upmarket chocolatier Richard O’Connor targets a trophy customer in each new market to give his firm, Chocolate & Love, a seal of approval he can use for leverage with smaller outlets.
In the UK, a deal with Harvey Nichols led to subsequent deals with 90 independent fine food shops. An approach to Copenhagen shopping centre Magasin Du Nord likewise put the company on the ‘pre-approved’ list for Denmark’s smaller specialist outlets.
Ask the experts
The two-year-old company exports to Nordic markets as well as France, Belgium and the US, but the overseas orientation by definition exposes O’Connor to markets in which he has few or no contacts. The key is finding the right partner in each market.
O’Connor’s advice is not to be afraid of asking trusted companies in the same industry for help. “In the tight-knit fine food business, trust counts for a lot. I was lucky enough to meet an entrepreneur with more experience who was willing to share her contacts.”
Re-blogged Courtesy of Ray Hays, Member of Arizona District Export Council
A couple years ago, this blog featured the following articles on the trend of international franchises targeting the U.S. market:
A new Entrepreneur Magazine article studies this new trend, some examples of foreign franchisors in the U.S. market, and the barriers to entry to for international franchises wishing to launch into the U.S. market. The article quotes Ray Hays, author of this blog, in addition to franchise owners involved in this trend.
Re-blogged from qz.com courtesy of Ray Hays, Member of Arizona District Export Council.
Coke is so prevalent around the world that non-profits look to its supply chain for help on distributing aid. McDonalds, in 122 different countries, is so widespread that there’s a foreign relations theory that no two countries hosting the burger franchise will go to war, although the strong version of that theory is well dead. And Wal-Mart is the world’s third largest global employer, after the American and Chinese militaries, respectively.
The US must be great at globalization, right?
Unfortunately, no, according to Bhaskar Chakravorti, the director of Tufts’ University’s Institute for Business in the Global Context. He says all these examples represent “the myth of American global market power”—they are outliers that disguise the real failing of American multinationals to succeed around the world, and especially in fast-growing emerging markets. Despite what you might hear, he says “we are extremely under globalized.” Here’s an excerpt from a forthcoming paper he’s written with fellow economist Gita Rao (emphasis mine):
In 2010, emerging markets represented 36% of global GDP; these markets already account for the majority of the world’s oil and steel consumption, 46% of world retail sales, 52% of all purchases of motor vehicles and 82% of mobile phone subscriptions. With two-thirds of global growth coming from these markets, in a decade they will account for the majority of the world’s economic value. Yet U.S. companies derived less than 10% of their overall revenues from emerging markets: about as little as 7%, according to HSBC estimates for 2010. The 100 largest companies from the developed world overall made 17% of their revenues from emerging markets, according to a McKinsey report; in other words, the U.S. lags not only emerging market firms in capturing share in emerging markets, but it lags the developed world overall. By considering the difference between the “absolute potential” represented by the 36% number or, to take a much more conservative benchmark, the global peer average of 17% and the U.S. share of 7%, we derive two measures of the gap – and the degree to which U.S. industry has not participated in global growth.
There are several reasons the US is being held back. Some are the intrinsic challenges of doing business abroad: Besides language and cultural barriers, there are underdeveloped supply chains, incomplete capital markets, corruption, etc. But European companies earn 25% of their revenues from emerging markets, so these must be surmountable. What’s America’s problem?
America doesn’t have a legacy of colonization. Despite a hefty history of foreign interference, the US didn’t set up the same deep linkages that Spanish and Portuguese companies did in South America or European countries have in Africa or South Asia. Chakravorti, who was a McKinsey executive for many years, recalls European competitors in Africa asking, ”What are you doing in Africa? Africa belongs to us.” Meanwhile, he says, ”the executives I was working with had no understanding of the socio-cultural context of the continent.”
America is actually pretty insular. Because it’s a big country, and has had many decades of consumer-driven growth, US businesses haven’t necessarily had to look over the horizon for new opportunities. After the 9/11 attacks, Chakravorti says, things got even worse, and most businesses stayed home. It doesn’t help that less than 20% of Americans speak a language other than English, while 56% of Europeans speak a second language.
American business is all about standardization. Companies get economies of scale from selling the same product, but many emerging markets are stratified and require different products and price-points in the same country; while American executives want a ”Brazil strategy,” what they really need is a strategy for Sao Paulo state and another for more rural areas.
Chakravorti argues that American companies do have what it takes to surmount these challenges, and they’ll need to if they want to bring more growth back to the US.
His strategy starts with a focus on sectors where America can compete abroad but isn’t taking full advantage of the opportunities, particularly in consumer products and large-scale services such as education, elder- and child-care. American companies need to start thinking about tailoring their strategies to demand abroad—particularly at the bottom of the pyramid— but the market can’t do it alone: The government needs to work more closely to tailor its foreign policy to America’s commercial needs while opening education to a more international view.
“That gap has been closed completely in China, because the most powerful companies are state-owned,” Chakravorti says. “We are still talking about the Asia pivot as though it is something dramatic and new, while China has been pivoting for a while.”
Original article link: http://qz.com/59506
On February 28, 2013, Daniel Ogden, Chairman of the National District Export Council, testified before Congress during a hearing of the House Small Business Trade Subcommittee on the development by the 113th Congress of a small business trade agenda.
In the Testimony, Daniel Ogden provides a comparison of U.S. federal export assistance programs with government-funded export assistance in other large exporting countries. Highlights include:
Ogden’s testimony also includes several useful facts on US export assistance including:
Click here for a PDF copy of the Testimony Transcript, or see the Testimony video below. (Testimony starts at time marker 8:55.)
For more information on the National District Export Council, please refer to their website at http://www.districtexportcouncil.com.
Re-blogged courtesy of Ray Hays, Member of the Arizona District Export Council
Reblogged courtesy of Ray Hays, Member of Arizona District Export Council
Recognizing Three Years of Export Growth
An article from the ITA Blog, by Under Secretary of Commerce Francisco Sánchez
March 12, 2013
Francisco Sánchez serves as the Under Secretary of Commerce for International Trade.
During the last several weeks, we’ve highlighted a lot of great news in the business of U.S. exports.
From record exports in travel and tourism tosuccesses in gaining access for American companies to foreign markets, 2012 gave us a lot to be proud of in the field of exports. More important than just the dollar amounts is the fact that almost 10 million jobs were supported by these exports in 2012.
This success is the direct result of a concentrated initiative introduced by President Obama in 2010, one that has coordinated the efforts of several U.S. government agencies to increase American exports and create American jobs. Under the National Export Initiative (NEI), we’ve seen U.S. exports increase from $1.58 trillion in 2009, to a record $2.2 trillion in 2012.
We recognize the third anniversary of the NEI this week, so we’ll be sharing some of the successes we’ve seen under this initiative over the next several days.
I hope you will get in on the conversation. How have exports helped your business? How can the International Trade Administration and other government agencies help you increase exports? Follow some of America’s core export-promotion agencies on this Twitter list to learn about the government’s efforts to help U.S. business.
Source: Tradeology, the ITA Blog
Re-blogged courtesy of Ray Hays, Member of Arizona District Export Council
By Ray Hays, International Consultant and Member of the Arizona District Export Council.
Re-blogging of this post is permitted and encouraged.
As many U.S. small and medium-sized enterprises (SMEs) compete for revenue from new markets, they often overlook the global picture: Promote your products and services internationally. While it sounds daunting, it’s often a simple matter of funding and international expertise to sell your products and services into global markets.
What if your company had the opportunity to leverage international business experts from the public and private sector to market your product internationally? At no cost?
Welcome to the best kept public secret in international business.
The Small Business Administration (SBA) offers grants through the State Trade and Export Promotion Grant (STEP) program. Over the last year, $30 million in export promotion grants were awarded through the SBA, and the same amounts are expected for 2013 and 2014
The rules and amounts of the grants will vary by state, but in many cases, U.S. exporters of products and services are eligible for thousands of dollars in export promotion grants.
Depending on the state, these grants may be applied toward the travel and fees of several export promotion opportunities:
As a (very rough) example, a Trade Show may require a travel budget of $5,000 and exhibition costs of $5,000. Some U.S. companies can qualify for reimbursement of 75% or more of the travel cost and 100% of the exhibition costs through the STEP Grant program. This would bring the cost of a $10K trade show into the range of $1,250… Other export promotion activities may be covered in-full.
Of course, a U.S. company should not strike out blindly into the international marketplace. Your company will need to identify target markets, evaluate risk/returns based on the country regulations and demographics, build a model for international expansion and finally, execute on this plan.
If you do not have the international expertise in-house, you can work with a U.S. contractor — a consultant or management firm — to plan and deploy the export promotion strategy.
Whether your company builds an international team in-house or contracts international management specialists, this would be a good time to take action. The second year of SBA STEP Grants are already awarded, and the third (and final) year of STEP Grants are awaiting proposals. Go get your piece of the international pie.
In addition to these grants, export financing programs for SMEs are available through SBA and Overseas Private Investment Corporation (OPIC).
For resources, please contact your regional District Export Council (Google it for your state), or the nearest U.S. Commercial Service Export Assistance Center.
Having personally participated in over 40 international events and trade missions through the USCS, I highly recommend using their services. I am currently a Member of the District Export Council in my home state of Arizona, which works closely with the USCS on export promotion efforts.
Regardless of your location, please feel free to contact me if you would like more information on these programs, and I would be happy to point you to the appropriate export assistance resource in your local market.
This article is based on current knowledge to-date of STEP Grants based on various government websites. The program details may vary by state and rules are often updated. For the latest information please click on this link for the SBA website page on the STEP Grants.
Please re-blog or re-post this article to your social media groups and professional contacts interested in international business.
Copyright Ray Hays, Envoy Investments LLC. All rights reserved. Re-blogging of this post is permitted. Referrals to http://www.rayhays.com are appreciated.
Ray Hays owns Envoy Consulting, which provides international business development guidance for U.S. product and service exporters. Ray is a Member of the Arizona District Export Council. Email: email@example.com, cell: 714-797-3386, Skype: Ray_Hays.
December 14, 2012
Todd DeLelle is an international trade specialist in the International Trade Administration’s Office of Energy and Environmental Industries.
Commerce Department and the Environmental Protection Agency (EPA) officials will be participating in a series of collaborative activities to promote exports of U.S. environmental solutions during POWER-GEN International, the industry leader in providing comprehensive coverage of the trends, technologies and issues facing the generation sector. At this year’s show, EPA participation has been folded into the International Buyer Program, a joint U.S. government-industry effort designed to stimulate U.S. exports by promoting U.S. industry exhibitors to foreign markets. Department of Commerce and EPA representatives are meeting with power industry delegates from international markets and U.S. companies at the show’s Global Business Center.
The Department of Commerce and EPA continue to work together to promote U.S. technology exports by integrating EPA’s technical analysis into Commerce’s export promotion and trade policy activities. The two agencies lead The Environmental Export Initiative – an effort to enhance interagency efforts to support U.S. exports of technologies relevant to air emissions, water treatment, and solid waste management. The Initiative was publicly announced on May 14, 2012 at American University by then-Commerce Secretary Bryson, EPA Administrator Jackson, U.S. Trade Representative Kirk, and Secretary of Agriculture Vilsak. In 2010, the United States industry that supplies these goods and services generated an estimated $312 billion in revenue, employed 1.7 million Americans, and experienced a trade surplus of approximately $13 billion, according to Environmental Business International. Its export activities underpin the advancement of environmental quality and human health in other parts of the world, while supporting increased jobs and economic activity in the United States.
While at the show, Commerce and EPA officials will be touting the recently developed Environmental Solutions Exporter Portal. The portal represents a on-line resource for companies interested in U.S. government services and products that facilitate exports. It provides a direct line to U.S. trade and environmental protection specialists and includes information on foreign environmental markets, export facilitation services, export finance products, trade promotion events, and policy initiatives that support the U.S. technology exports.
The Portal also links EPA analysis of key global environmental issues with U.S. solutions providers in the U.S. Environmental Solutions Toolkit. Currently, the Toolkit includes modules on groundwater remediation, nutrient removal in municipal water treatment, emissions control from large marine diesel engines, and mercury control from power plant emissions. The addition of supplemental air pollution control areas is currently underway, including those relevant to: nitrogen oxides emissions control from power plants, air issues relevant to the oil and gas industry, and emissions from non-road diesel engines.