Manufacturing’s Dismal Decade

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Last year, Barack Obama committed his administration to doubling U.S. exports in half a decade. The good news: He is on the way. U.S. exports of goods and services grew in 2010 by 16.6 percent. Bad news: U.S. imports, starting from a higher base, surged by 19.7 percent. Result: The …

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A Decade of Self-Delusion

About the first decade of what was to be the Second American Century, the pessimists have been proven right.

According to the International Monetary Fund, the United States began the century producing 32 percent of the world’s gross domestic product. We ended the decade producing 24 percent. No nation in modern history, save for the late Soviet Union, has seen so precipitous a decline in relative power in a single decade.

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China's Path to Power

China’s Path to Power

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Across the Pacific, a nation that studied how America rose, and watched as America declined, chose a different path. China adopted and pursued a China First policy of economic nationalism. For decades, before a heedless congregation, some of us have preached the old Hamiltonian gospel. Great nations do not have …

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How to Bring Manufacturing Back Home

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In July, our trade deficit hit yet another all-time record, $68 billion, an annual rate of $816 billion. Imports surged to $188 billion for the month, as our dependency on foreigners for the vital necessities of our national life ever deepens. China’s trade surplus with us was $19.6 billion for …

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Steel Dump for the World

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Fourteen years ago, foreign steel producers began dumping heavily into the U.S. market, choking America’s industry near to death. Big Steel went to the president. Ronald Reagan listened and acted. On Sept. 22, 1984, he took to the airwaves to denounce “predatory practices” that had made America a “steel dump …

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