Article contents
The Global Competitiveness of the U.S. Food-Processing Industry
Published online by Cambridge University Press: 10 May 2017
Extract
Before the 1970s, the U.S. economy was so large relative to the rest of the world that few American economists worried about the international sector and its relation to the U.S. economy. That view has changed dramatically in the past two decades. Total U.S. trade has increased from only $83 billion in 1970 to $866 billion in 1990, averaging a 12.4% increase each year. Exports accounted for less than 4% of U.S. gross national product (GNP) in the 1950s and 1960s, but now exports account for about 6% of U.S. GNP. These changes have radical implications for U.S. firms and government policies. The U.S. can no longer disregard economic occurrences in the rest of the world.
- Type
- The Changing Composition of the Agricultural Industry
- Information
- Northeastern Journal of Agricultural and Resource Economics , Volume 21 , Issue 1 , April 1992 , pp. 61 - 70
- Copyright
- Copyright © 1992 Northeastern Agricultural and Resource Economics Association
References
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