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We need to protect the shrinking export markets we still have.
This is what a largely deindustrialised country, faced with shrinking export markets, has to offer: fragile employment in the sectors – supermarkets are the best example – that are largely immune to even a prolonged slump.
In aggregate modeling, shrinking export markets would mean losses of export revenues and factor income, hitting vested interests of beneficiaries from the palm oil industry.
By the time of Sukarno's downfall in the mid-1960s, theconomymy was in chaos with 1,000% annual inflation, shrinking export revenues, crumbling infrastructure, factories operating at minimal capacity, and negligible investment.
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Economists had forecast that annual growth in Indonesia, which has the largest economy in Southeast Asia, would ease to 6.1 percent, citing shrinking exports.
But Europe and America's exports to China have remained broadly flat over the past year and amount to less than 7% of the total, even though shrinking exports to other countries flatter the figure.
What, for example, links the recent poor performance of Jaguar Land Rover, the halving of Tata's profits, the shrinking exports of Taiwanese phone firms, the rescue of the Ecuadorean economy after it defaulted on debts, and the fall in the price of gold last month?
But as we have said (see: "So Long, Don Evans") the bigger problem may well be America's shrinking exports, which have been steadily declining as a percentage of gross domestic product.
With household consumption falling, government spending shrinking and export growth slowing, the economy is weakening.
Meanwhile, even as high world prices have maintained Syria's income despite shrinking energy exports, new discoveries of gas and oil most recently, by British-based Gulfsands Petroleum look set to slow the predicted decline in reserves.But perhaps the greatest satisfaction for Mr Assad is the likelihood of his outlasting his enemies.
Moody's Analytics estimates that if the United States were to impose proposed tariffs on China and Mexico and those two countries retaliated in kind, that and other factors would shrink U.S. exports by $85 billion in 2019.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com