Trade News: Covering Our Collective Ass and Protecting Our Vital National Assets

From International Trade Law News: Representative Berman Introduces Bill to Update U.S. Export Control System: Technology Security and Antiboycott Act. This is the first of several bills to update the U.S. dual-use export control system. Such a bill is needed because the Export Administration Act of 1979 (EAA), the last major export control bill enacted by Congress, lapsed in August 2001 and the Export Administration Regulations have remained in effect as a result of successive presidents invoking the International Emergency Economic Powers Act (IEEPA).  This Bill would repeal the EAA and replace the authority in that law with a new statutory scheme that reflects the numerous technological advances and global changes that have occurred since 1979. PDF Link for 88 page bill.

It is incredulous that we (the people) have been so apathetic as to depend upon legislation enacted in 1979 for the security of our advanced technology!  However, it’s comforting to know that other “advanced” technologies from the 60’s and 70’s like keypunch machines, 8 track tapes, black & white TVs and 45 record players have been securely protected with severe criminal penalties established for inappropriate sale.   

From the Datamyne Blog: China’s Alarming Record. More FDA inspections and access to results are called for.  A new report from Food and Water Watch reprises a lengthy list of Chinese import disasters, from melamine-contaminated pet food in 2007 to antibiotic-laced honey in 2010. The point of the Decade of Dangerous Imports is that China is exporting its food safety problems along with a growing share of the US food supply.

From the China Sourcing Blog. Could China be on the Verge of a Huge Power Shortage? The world’s fastest-growing major economy may be on the verge of a severe power crisis: a power shortage of 30 million kilowatts this summer. Some commentators have said that it’s the worst power shortage in China since 2004, while others have gone so far as to say it’s the worst in China’s history.  Need more  “juice” to keep the Dragon growing and going.

Foreign Direct Investment is a double edged sword

From the Bureau of Economic Analysis: Foreign Direct Investors’ Outlays to Acquire or Establish U.S. Businesses Increased in 2008. In 2008, as in previous years, most outlays by foreign direct investors were to acquire existing businesses. These outlays were $242.8 billion, compared with $17.6 billion to establish new U.S. businesses. Outlays made by, or through, existing U.S. businesses were $213.3 billion, much greater than the outlays of $47.1 billion made directly by foreign investors.

In 2008, U.S. businesses that were newly acquired or established by foreign direct investors had 368,500 employees, compared with 496,600 employees in 2007. Employment at newly acquired or established firms was largest in manufacturing (146,600) followed by finance (except depository institutions) and insurance (95,700). The total assets of newly acquired or established businesses were $895.7 billion, up from $411.8 billion in 2007.

Additional information, including tables, charts and additional referential material may be found at the BEA website.

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