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Before the recession optimists routinely cited America's pre-eminence in financial services as a driver of future export growth.
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Meanwhile, the Bush administration is cheering on a stronger dollar — which undermines the prospects for future export growth.
More of the same: areas of future mineral export growth will be neglected, Queensland MPs will continue to beat their chest for a project that has not worked on paper for a decade and is unlikely to do so, regional WA MPs will continue to behave like clueless absentee landlords that do not know their local area or industries because they have the privilege of running more or less unopposed.
Import growth, a sign of future exports, has also fallen.
Child deaths reduce future spending on goods and services; future labour force; future household savings, and hence investments; the number of future tax payers, and hence future tax revenues; and the number of future exports producers, bleeding future exports earnings.
For example, in 1993 alone firms exporting existing products to existing markets accounted for 91% of total export growth.
Exports to China accounted for about one-fifth of total export growth last year in America and the European Union.
"China remains the source of most of the export growth," wrote Richard Jerram, an economist for ING Financial Markets.
More than $237bn was poured into mining projects this year with the expectation of increased export growth.
The Japanese earthquake will simultaneously have a negative effect on China's exports, since Japan makes up about 8percentt of Chinese exports and 6percentt of its export growth.
Growth of GDP per capita is a function of capital formation, export growth and trade partner growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com