Seen in Print

[up148]

The top export categories (2-digit HS) in 2017 were: precious metal and stone (diamonds) ($7.0 billion), mineral fuels ($2.8 billion), aircraft ($2.2 billion), machinery ($2.1 billion), and optical and medical instruments ($1.4 billion).

Is this just to India Wayne?

BH

Yes, the list is what we export to India and the value of it but we export the same things to other countries also.

I was just surprised they imported much more in precious gems and metal than in anything else.

BH

[up148]

Hopefully he was fired for abusing equipment and endangering co-workers, but more likely filed a lawsuit for injuries sustained and drew a big award.

BH

[HONDO74]

[E7]

Japan is in that import-export trade phenomenon, too, with the USA. It is my understanding that it became cheaper to ship raw-material used in making steel/products , and to have the finished products shipped back to the USA, than to have steel continue to be manufactured in the many cities along the now-called "Rust Belt" factory real estate. Though I have received advice somewhat to the contrary here on MTJ about this previously, I remain unconvinced, though I realize the high wages demanded by the unions were seen as culpable in the steel industry collapse in the overall USA.

Murph, My knowledge of the US steel industry is slim and none, and Slim left town. My question would be, how much of a factor in the whole mess do environmental restrictions play? That meaning, how much extra cost would that kind of thing add to US production? I know zero about Chinese steel production, but I am betting environmental restrictions are far less over there. Any idea how big a factor that is?

Rich

[E7]

Hopefully he was fired for abusing equipment and endangering co-workers, but more likely filed a lawsuit for injuries sustained and drew a big award. BH

Considering the video evidence, I can't imagine any court would have given him any kind of award, but then we have stuff like the McDonald's coffee thing.

[E7]

India is currently our 9th largest goods trading partner with $74.3 billion in total (two way) goods trade during 2017.

The top export categories (2-digit HS) in 2017 were: precious metal and stone (diamonds) ($7.0 billion), mineral fuels ($2.8 billion), aircraft ($2.2 billion), machinery ($2.1 billion), and optical and medical instruments ($1.4 billion).

U.S. total exports of agricultural products to India totaled $1.6 billion in 2017. Leading domestic export categories include: tree nuts ($738 million), cotton ($435 million), fresh fruit ($104 million), pulses* ($53 million), and dairy products ($43 million).

*Pulses are a leguminous crop that are harvested solely for the dry seed.

U.S. exports of services to India were an estimated $23.7 billion in 2017, 15.2% ($3.1 billion) more than 2016, and 174% greater than 2007 levels. Leading services exports from the U.S. to India were in the travel, intellectual property (computer software, audio and visual related products), and transport sectors.

So there actually is still quite a lot of product made here in the US, it's just that we, the American public don't get to see it.

PS: I just purchased a small set of stainless pots and pans that were very reasonably priced and of very decent quality, and they were made in...........India. Rich

[robert.]

Here is how India gets scrap metal. They run huge ocean liners aground. then cut them to bits
http://www.traveller.com.au/what-happen ... ums-h1280l

[Rufus T. Firefly]

[MurphOnMillerAve]

Japan is in that import-export trade phenomenon, too...the high wages demanded by the unions were seen as culpable in the steel industry collapse in the overall USA.

Murph, My knowledge of the US steel industry is slim and none, and Slim left town. My question would be, how much of a factor in the whole mess do environmental restrictions play? That meaning, how much extra cost would that kind of thing add to US production? I know zero about Chinese steel production, but I am betting environmental restrictions are far less over there. Any idea how big a factor that is?

Rich

You mention an interesting factor, no doubt. However, I was just a common laborer, for a brief adolescent summer, and left town for my future elsewhere upon graduation from college in the late 60's. It was a subsequent nostalgia trip to my hometown area a few years later that acquainted me with the startling realities of the empty lots where steel mills once stood, community after community, up and down the rivers.

[Rufus T. Firefly]

Environmental restrictions have been used as the big excuse and target to blame by companies that failed to modernize, failed to invest in being competitive, and got left behind - modern steel production is still in existence in the US. We did it to ourselves as with many things over the past 3-5 decades. No forward vision except on the next quarterly report while the rest of the world looks and plans years and decades into the future. We embrace the short-term and the temporary.....

[MurphOnMillerAve]

Well, of course, demise of huge steel mills along most all the banks of the Youghiogheny, Allegheny, and Monongahela rivers would be a complicated matter, perhaps a story that will never be completely told. Maybe that story would make a good graduate-level course in economics and business management (at least) someday.

[rogruth]

I am from the same general area that Murph is from. Never worked in any part of the steel industry but it affected everyone and everything in the area now known as the Rust Belt.
I recall that some mills closed when environmental concerns became problematic. It was reported that new smaller mills could be built using new technology and that was done but usually in a different place that had more to offer the company. High wages demanded by unions was often cited.
Now if you have ever been in close proximity to an operating steel mill you might understand why workers expect those wages. Ask Murph. There are probably more. I was raised in Ohio across the river from a steel mill and could feel the heat from it.
OH, even considering the above, Rufus is right about this.

[Rufus T. Firefly]

Well, of course, demise of huge steel mills along most all the banks of the Youghiogheny, Allegheny, and Monongahela rivers would be a complicated matter, perhaps a story that will never be completely told. Maybe that story would make a good graduate-level course in economics and business management (at least) someday.

I have no doubt that that story is the subject matter of not only course taught in Economics but probably also as the subject of many PhD dissertations.

[E7]

No doubt Environmental restrictions, High Labor for sure. You could cite lack of planning/foresight for most any failure, as in "had they been preemptive they would not have failed". That is sort of a universal thing, Looking more for specifics.

Doubtful China will ever have labor issues.

[Rufus T. Firefly]

No doubt Environmental restrictions, High Labor for sure. You could cite lack of planning/foresight for most any failure, as in "had they been preemptive they would not have failed". That is sort of a universal thing, Looking more for specifics.

True and a parallel situation existed in the automobile industry as well. File it all under the lack of real long-term vision. Our economy, society, and Gov't simply fail on the long-term. It's all what's happening today in the next 15 min (sec?), and not enough long-term strategy.

Doubtful China will ever have labor issues.

Possibly so.......for the near-term, almost certainly so. They are having some issues still with higher tech and engineering expertise.