She meant, I take it, that they were to produce work that would go down well with foreign punters, shows like War Horse and Matilda, both namechecked as sterling examples of exportable commodity culture.
Under this scheme, any acceleration of the economy led to fewer exports (more exportable goods were demanded internally) and more imports of inputs and capital goods.
Moreover, even the owners of inputs employed in the secondary sector will have weaker incentives to support protectionism if this shift toward services occurs at the expense of the consumption of the exportable good.
The argument presented in our model is similar to the Stolper Samuelson (1941) result: if labor is assumed to be employed less intensively in the production of the exportable good, then protection should increase its real remuneration.
First, the production of the exportable good does not use the pivot input labor intensively. Otherwise, the pivot group would tend to support free trade policies in the short and medium run.
Real investment in China is about 45% of GDP, and, aside from housing and infrastructure spending, about half of this capital expenditure goes toward the production of new capital goods that produce more exportable goods.
These new industries usually make exportable goods, such as cotton textiles or toys.
Iceland already converts its surplus electricity into exportable goods and hydrocarbon replacements.
The way globalization is going, America's going to need as many exportable goods as it can get its hands on.
