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Global Engagement Benefits: Trade, Workers, and Firms | Enhancing Economic Growth

This overview explores the gains from global engagement for US exporters, importers, multinationals, and workers. Companies engaging in international trade experience faster sales growth, reduced bankruptcy risks, and increased adoption of advanced manufacturing technology. Workers enjoy faster employment growth, higher salaries, and better benefits. Multinational firms exhibit higher productivity, faster growth, and increased use of advanced manufacturing technologies, leading to wage premiums for workers. Learn why global commitment matters for economic prosperity.

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Global Engagement Benefits: Trade, Workers, and Firms | Enhancing Economic Growth

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  1. Gains from Global Engagement : Overview Trade: US Exporters vs. Non-exporters US Importers vs. Non-importers Firms: - 0.6 to1.3% faster sales growth - More like to receive FDI - 8.5% less likely to face bankruptcy - More likely to use adv. mfg. technology Workers: - 2 to 4% faster annual growth in employment - Approximately $1000 more in annual salaries per 10% of company input - Benefits for all workers on average 37% imported higher FDI: US Multinationals vs. US US-located companies with FDI Non-multinationals vs. US companies without FDI (comparable plants) (comparable plants) Firms: - US labor productivity 11% higher - 2-4% faster growth - 31% more adv. mfg technologies - 27% more adv. mfg technologies Workers: - 7 to 15% wage premium - 13 , 19% wage premium to white, blue collar workers respectively Source: Lewis and Richardson, Why Global Commitment Really Matters, IIE 2001

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