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With a consumer base increasingly hesitant to readopt spending habits,the U.S. economy seems to be caught in a tight spot. But the country still boasts a solid manufacturing base and remains a world leader in technology. So is it possible for the United States to switch to an export-driven growth model,and what efforts should be made for such a transition? Zhao Zhongwei,a senior researcher with the Institute of World Politics and Economics under the Chinese Academy of Social Sciences,discussed these issues in an article recently published in the Shanghai Securities Journal. Edited excerpts follow:
With a consumer base increasingly hesitant to readopt spending habits, the US consumption seems to be caught in a tight spot. But the country still boasts a solid manufacturing base and remains a world leader in technology. So is it possible for the United States to switch to an export-driven growth model, and what efforts should be made for such a transition? Zhao Zhongwei, a senior researcher with the Institute of World Politics and Economics under the Chinese Academy of Social Sciences, discussed these issues in an article recently published in the Shanghai Securities Journal. Edited excerpts follow: