Gross domestic product The economic growth rate is calculated from data on GDP estimated by countries' statistical agencies. The rate of growth of GDP per capita is calculated from data on GDP and people for the initial and final periods included in the analysis of the analyst. Determinants of per capita GDP growth[ edit ] In national income accounting, per capita output can be calculated using the following factors: Productivity improving technologies economic history Economic growth has traditionally been attributed to the accumulation of human and physical capital and the increase in productivity and creation of new goods arising from technological innovation.
Listen to an interview with the author Over the past several years, the outsourcing of hundreds of thousands of white-collar and service jobs from the United States to countries like India and China has received increasing attention.
While offsets are virtually unregulated in the United States, other countries have well-established policies that are feeding the development of their own industries by bringing U. The failure of the U. Despite the loss of over 3 million manufacturing jobs in the United States in just the past few years and the emasculation of key industries like shipbuilding, tools, autos, electronics, and semi-conductors, U.
Instead of developing policies to foster and strengthen key industries, policy makers relegate decisions to major companies in the private sector,2 where a short-term focus on individual firms' profits has devastating results for the overall economy and national security.
In the meantime, U. Department of Commerce b, Appendix F. Strangely from a national security standpoint, offsetting is common in production by the defense industry, and the number of offset deals in that industry alone is staggering.
Over the year periodU. One country that truly understands the importance of offsets is China. By pitting Boeing and Airbus against one another for sales of aircraft, the country has secured the transfer of technology and production by U.
Boeing has signed hundreds of millions of dollars of supplier contracts with China's aviation industry, while Airbus, in addition to entering into supplier contracts, has announced the establishment of an assembly facility for the Airbus A in China.
Policy makers need to recognize the threat that offsets pose for U. Proposals for eliminating this threat include: United States industry and its workers should not be held defenseless to offset demands by other countries.
Moreover, companies receiving a government contract should report whether it involves any form of offset transaction and whether the transaction has an impact on domestic jobs. Current language regarding offset agreements is narrow and often ignored.
Much progress could be made on this issue if and when the U.
Half-hearted efforts in the recent past to create and empower an interagency governmental task force garnered useful information but produced virtually nothing in the way of policy.
Experts from industry and labor must join representatives from academia and government to develop meaningful policy proposals to address the challenges that offsets and other forms of outsourcing pose for U.
This paper reviews offsets and their implications for the U. The first section discusses the definition of offsets, how they can operate to the detriment of the U. The third section contrasts the influence of offsets on the decline of the U.
The final section puts forth policy proposals that address offsets and that, if adopted, will go a long way toward mitigating the threat that they pose for the U.
Department of Commerce b, Section ; other related terms are defined here as well. Simply put, an offset is a condition a country places on its purchase of goods or services that requires the seller to transfer some production or technology to the purchaser.
Traditionally, offsets have been divided into two categories, direct and indirect. For example, the production of part of a fighter jet is transferred to another country in return for that country purchasing the fighter jet. Indirect offsets involve transfers of technology, production, or other innovative schemes unrelated to the product being purchased.
For example, in return for an agreement by one foreign government to purchase a jet fighter made in the United States, the U. Department of Commerce a, Section I-3; see also Herrnstadt Although the basic concept of offsets is relatively simple, transactions can rapidly become complicated when they affect different products, services, and industries or take on complex forms.
For example, in addition to the transfer of technology and production, offsets can involve outsourcing, licensing procurement, subcontracting, research and development, foreign investments, countertrade, financing, and co-production.
Moreover, innovative methods for valuing some offset packages can also make them exceedingly complex see U. Department of Commerce b, Section While the Commerce Department's definition of offsets refers to the defense industry, offsets and offset-like activities also occur in the commercial industry.
But given the increasing complexity of offsets and the growth of indirect offsets, it is not always easy to distinguish between the effect of offsets in the defense and commercial industries.1 EU-Japan EPA – The Agreement in Principle 6 July This document summarises the negotiating results of the Economic Partnership Agreement between the.
The Comprehensive and Economic Trade Agreement, or CETA, is a trade deal between the EU and rutadeltambor.com aims to boost trade and help generate growth and jobs.
CETA will. lower customs tariffs and other barriers to trade between the EU and Canada. A negotiated and usually legally enforceable understanding between two or more legally competent parties.
Although a binding contract can (and often does) result from an agreement, an agreement typically documents the give-and-take of a negotiated settlement and a contract specifies the minimum acceptable standard of performance.
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The European Union (Definition of Treaties) (Economic Partnership Agreements and Trade Agreement) (Eastern and Southern Africa States, Southern African Development Community States, Ghana and Ecuador) Order A tweet Friday, in which Trump threatened to veto the spending bill, also underscored another tenet of Trumpism — a state of continuous uncertainty about where he will land on key policies.