A Competitiveness Strategy for America Joint Hearing Before the Committee On B

Cover A Competitiveness Strategy for America Joint Hearing Before the Committee On B
A Competitiveness Strategy for America Joint Hearing Before the Committee On B
Housing United States Congress Senate Committee On Bank
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" The re- port recommends changes to enhance competitiveness in many areas including: edu- cation, training, technology, corporate governance and financial markets, trade pol- icy, investment in public and private infrastructure, private savings and the Federal budget deficit. Though the Report focuses on an array of issues, I would like to focus on two of its recommendations which fall under the jurisdiction of the Banking Committee. First, we must look at increasing export financing for small...-medium businesses and second, reducing the disincentives that block billions of dollars in exports by Amer- ican companies. We must make improvements in these areas while at the same time 53 demand reciprocity of open foreign markets and defend against unfair trade prac- tices here at home. These efforts will enhance the ability of American business to increase their exports and increase their jobs here at home. In the area of export finance, the Report states that over 50 percent of U. S. Ex- ports are accounted for by only 100 companies.

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