Chinese customers are increasingly important for sustaining U.S. jobs in export industries and local services including hospitality and retail.
Asia's export industries are more and more dependent upon efficient communications and transport.
But workers displaced from China's export industries will have to find jobs elsewhere.
The country's key export industries are phosphate mining, fertilizer production, and commercial fishing.
He says export industries are doing "quite well", though the importance of sales to other euro countries has declined dramatically.
Fast productivity growth in export industries raises average wage costs across the economy, including in non-traded services where productivity is sluggish.
Jobs are already being cut in London's financial district, one of Britain's more reliable export industries, because fees and commissions have dried up.
That was because the Chinese and east Europeans had begun to compete head-on with two of Portugal's biggest export industries: textiles and footwear.
The dynamics are a bit involved but in short export industries will tend to be folks who gain from increasing returns to scale.
Its dilemma is how to avoid spending so much of the oil and gas money that inflation gets going, possibly then killing off export industries.
Former finance minister Lindsay Tanner has warned in the past that Australia needs to reduce its reliance on mining and focus its efforts on other export industries.
Financial linkages are less important in CIS countries and in the Middle East and north Africa, but a deeper euro-area recession will batter export industries there, too.
In many export industries, particularly steel, margins are already wafer-thin.
Real state revenue fell in the last two quarters for the first time since 2003, despite a sharp increase in tax receipts from export industries booming on the back of the weak dollar.
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Greek officials point to hopeful signs: the economy grew in the first quarter, export industries are booming and, partly thanks to unrest in the Arab world, more tourists are expected this summer than last.
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Contemplate the millions of families who have gone from subsistence farming to steady jobs in export industries, the students who have enriched themselves and their homelands after studying abroad, and the blossoming wonders of the Internet.
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98.
But many of them do choose to locate in the expensive city and pay the high wage, and as I point out in my book, expensive places like Silicon Valley employ a larger share of American workers in high value, export industries than do cheap places like Houston.
Experience suggests that export revivals are led by highly productive industries that already export a lot, rather than less productive industries regaining old markets.
"The government is determined to keep the export-oriented industries free from political strife, " he said.
Similarly, places like Kansas City and the Dakotas are looking to boost their basic rail and road networks to support export-heavy industries.
Kiwi policymakers remain concerned that the overvalued NZD is undermining profitability in export and import competing industries.
This is one of the reasons why U.S. service industries only export about three percent of their gross output.
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As a result, according to the World Bank, from 2001 to 2002 growth accelerated in the industries that export natural resources but slowed in those that produce goods for the home market.
As China moves up the value chain, it will export cheaper products in new industries, such as cars.
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In the industrial heartland of Ontario and Quebec, the American descent into recession is an additional worry on top of the pain in the car and lumber industries, which export to the United States and were already suffering from a strong Canadian dollar and weaker demand south of the border.
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The export picture also varied between different industries.
The reasons for the export restrictions may be to support infant industries and local consumers, but what are the implications for sustainable development in other countries?
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