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ENERGY AND RAW MATERIALS FACTORS AND PROSPECTS OF THE U.S. ECONOMY REINDUSTRIALIZATION
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ENERGY AND RAW MATERIALS FACTORS AND PROSPECTS OF THE U.S. ECONOMY REINDUSTRIALIZATION
Annotation
PII
S268667300000616-7-1
Publication type
Article
Status
Published
Authors
Sergei Tolkachev 
ORCID: 0000-0003-3766-2246
Occupation: Head of Department Macroeconomic Forecasting and Planning
Affiliation: Financizl University under the Government of Russian Federation
Olga Malikova
Affiliation:
Address: Russian Federation,
Sergey Pobyvaev
Affiliation:
Address: Russian Federation,
Edition
Issue 9 (549)
Pages
3-22
Abstract
The recent crisis has resulted in an appearance of new crisis strategies of the U.S. recovery. The potential key to America's long-term growth lies in the very heart of the country, it is manufacturing sector. The article is devoted to modern processes of reindustrialization in the United States. The authors note which conditions represent an opportunity for further U.S. reindustrialization such us: unit labor costs are among the lowest in the industrialized world; energy costs are low thanks to the gas bonanza; the cost of capital is very low given the Fed's ultra-accommodative monetary policy; the weak dollar makes U.S. exports very competitive in the majority of U.S. export markets; and the housing market is slowly rebounding. All these factors are paving the way for the future reindustrialization of the U.S. and mainly manufacturing could lead the U.S. economy become a major contributor going forward. The authors examine the dynamics of energy production in the United States and reveal the impact of the dramatic decline in energy prices on the development of American industry. The analysis of the main programs of re-industrialization and future shape of the U.S. economy in the near future were undertaken. The research was based on the comparative analysis, statistical data and expert estimates. The authors draw the conclusion that the development process of re-industrialization in the United States with the giant industrial and economic power could potentially lead to large-scale consequences in the global division of labor and the change of the whole geo-economic map of the world
Keywords
reindustrialization, industrial policy, shale revolution, basic industries, technological mode, reshoring, state development programs, industry, USA, high-tech
Date of publication
11.09.2015
Number of purchasers
1
Views
1083
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0.0 (0 votes)
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