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America’s share of Asia-bound trade has been declining—in many cases quite significantly. According to our analysis, from 2000 to 2010, the U.S. share of total goods imports into the 12 leading Asia-Pacific markets fell by 43%—from 14.3 to 8.2%—even as the value of those same imports consistently increased. For more about our shrinking slice of this important trade opportunity, read our new report, “Boatloads of Growth: Recapturing America’s Share of Asia-Pacific Trade.”

A Government Bank that Turns a Profit!

Third Way’s Ed Gerwin has a new memo out this morning that explains why shutting down or sharply curtailing the operations of the Export-Import Bank of the United States is a terrible idea. Some free market purists are putting common sense aside and are targeting the Bank, even though it:

  • Is a self-sustaining organization that returns $800 million annually to American taxpayers;
  • Creates or sustains some 390,000 American jobs at over 3600 companies; and 
  • Supports over $40 billion in American exports annually that are helping to grow our economy.

The memo answers key questions about the Bank and its export financing programs, and explains why a long-term re-authorization of the Bank is vital to help American exporters and their workers compete against foreign competitors who are aggressively backed by their governments.

READ: A Government Bank that Turns a Profit: Why the Export-Import Bank Should Be Reauthorized