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S. is sold in the U.S. Who else benefits?
It may depend on which brand of car is being sold, but the car company, and the country of origin, appear to benefit the most. Much of the activity occurs in the country where the company has its world headquarters. For example, U.S. cars are most likely to use U.S. manufactured parts and employ American engineers, while cars built by foreign care companies are likely to use foreign parts and have their research and development in another country. "Also, Ford (F, Fortune 500) and General Motors employ more people in the U.S. than Toyota (TM) or Honda (HMC), Nissan or Hyundai do. (Chrysler currently employs slightly fewer people in this country than Toyota, according the automakers' own numbers)" (Valdes-Dapena, 2009).
6. What about when a U.S. product that is produced (manufactured) overseas is sold overseas- who benefits most? Who else benefits?
When a U.S. product that is produced (manufactured) overseas is sold overseas, the U.S. company still benefits the most. Depending on the item, where it is manufactured, and where it is sold depends on who benefits. However, the country where the item is produced benefits from having jobs added to their economy, and the country where the item is sold tends to benefit because of greater availability.
7. Are certain industries more susceptible to the "Made in the World" syndrome...
Technology industries are very susceptible to the syndrome, particularly because the manufacturing costs for the small parts cannot be matched in the United States, and the potential marketplace is largely outside of the U.S., as well.
8. Is Thomas Friedman right (why or why not)?
I believe that Friedman is right that the increase in exports is not necessarily a negative for the U.S. economy. I think that America will continue to be a world leader in innovation, and that American innovation will allow American business to access a global marketplace.
References
Friedman, T. (2012, January 29). Made in the world. New York Times, p. SR 11.
Investopedia. (2012). Balance of trade. Retrieved May 21, 2012 from Investopedia website:
http://www.investopedia.com/terms/b/bot.asp#axzz1vXU2uV1S
Newman, R. (2012). 20 industries that are bouncing back. Retrieved May 21, 2012 from U.S.
News Money website: http://money.usnews.com/money/business-economy/slideshows/20-industries-that-are-bouncing-back
Valdes-Dapena, P. (2009, October 12). Surprise! Buying American still matters. Retrieved May 21, 2012 from CNN.com website: http://money.cnn.com/2009/10/12/autos/most_american_car/
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