Export lead economic growth for the US ?
Two years ago, President Obama promised to double exports over the next five years. The U.S. might actually meet that target. As Tyler Cowen reports in a fantastic article in The American Interest called "What Export-Oriented America Means," American exports are surging.
Cowen argues that America's economic export strength will only build in the years ahead. He points to three trends that will boost the nation's economic performance. First, smart machines. China and other low-wage countries have a huge advantage when factory floors are crowded with workers. But we are moving to an age of quiet factories, with more robots and better software. That reduces the importance of wage rates. It boosts American companies that make software and smart machines.