If the United States truly wants to boost the economy and narrow its
ginormous trade deficit, then medical technology would seem like a good
place to start.
Minnesota’s bread and butter industry generated a $5.4 billion trade surplus last year, one of the few American industries to do so. Which is why Obama Administration officials visited Medtronic Inc. (NYSE: MDT) Friday, to encourage small to medium medical device companies to pursue emerging overseas markets like China, Japan, Eastern Europe and Latin America.
Ever since President Obama announced his National Export Initiative (NEI)- an ambitious plan to double American exports in five years- during his State of the Union address in January, top trade officials have been crisscr0ssing the country, “targeting high growth, high potential sectors like medical devices,” said NEI Director Courtney Gregoire.
“Our economic recovery requires that we continue to reach outside our borders,” Gregoire said.
To read the full, original article click on this link: How to fix the U.S. economy: buy less of their stuff, sell more of ours « MedCity News
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