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America Makes... Will Asia Take?
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Report Published September 7, 2012 · Updated September 7, 2012 · 16 minute read

America Makes... Will Asia Take?

Ed Gerwin

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A rapidly growing Asia wants the products and services that America excels at producing–from aircraft, food, and financial services to heavy equipment and health care. But will Asia “Buy American?” Not if key American exports continue to face significant trade barriers in the region. In this report, we identify five tremendous and growing opportunities for U.S. exports to Asia. America can fully seize these and other opportunities–and the economic growth and good jobs that they will support—but only by aggressively using global trade rules and new trade deals to win greater fairness for U.S. trade in the region.

Coca-Cola has put an Asian spin on packaged milkshakes. Coke’s Minute Maid brand “Pulpy” shakes, first developed for Chinese palates, now account for $1 billion in sales in 20 countries.1 Other global American companies are racing to create innovative products that align with Asia’s preferences and meet its growing demand.2

America makes what Asia wants. But can Asia buy what America has to sell?

Third Way projects that, in 2020, leading Asia-Pacific* markets will import $10 trillion in goods–and trillions more in services. This explosive growth will present hundreds of billions in new export opportunities for America’s world-leading manufacturers, food producers, and service providers, potentially supporting millions of jobs for our middle class.3

There are various definitions of “Asia” and “Asia-Pacific.” In this report, our focus is on the export opportunities available to the United States in the countries of East Asia and Oceana, as well as India.

But opportunities are not guarantees. America’s foreign competitors have a strong lead in grabbing Asia’s vibrant growth. And they benefit from an array of barriers that block American exports to the region.

This report explores five key sectors in which Asia’s rapidly growing demand has vast potential for U.S. exports, while noting some of the serious barriers that strongly favor America’s competition. We conclude that the United States can grow its share of trade to the Asia-Pacific—but only if it uses tough trade enforcement and new trade deals to clear away the region’s many remaining impediments to U.S. trade.

What Asia Wants

Key Megatrends Powering Growing Asia-Pacific Imports

In the last 50 years, Asia has grown dramatically by becoming an export giant. In the decades ahead, Asia will also increasingly be a major, global force in importing. Swelling cities, expanding wealth, and evolving preferences are fundamentally altering the buying decisions of Asia’s consumers and businesses, creating trillions of dollars in new demand and lucrative markets for a wide array of goods and services.

Urban growth is a key driver of Asia’s expanding consumption and surging imports. Cities are potent growth creators, accounting for 80% of global GDP.4 Asia is currently home to half of the world’s urban population and will lead the world in the rate of urban growth in the coming decades. By 2020, urban Asia will need to find room for an additional 290 million people. China will have 131 cities with populations of at least one million, and Southeast Asia will have 20 “secondary cities” of over a million.5

The Asia-Pacific is also increasingly affluent. Over the last decade, personal incomes have more than doubled in the ten member countries of the Association of Southeast Asian Nations (ASEAN).6 India now has more middle class people (400 million) than America has people.7 And each day, China creates 159 new millionaires.8 By 2020, the Asia-Pacific middle class will expand by more than 1.2 billion, and will make up half of the world’s middle class consumers.9 This rapidly increasing prosperity will at least double Asia’s level of consumption—to almost $9 trillion—by 2020.10

Finally, as the Asia-Pacific becomes more urban and affluent, it is also undergoing a rapid evolution in preferences and tastes. New middle-class consumers can increasingly afford travel, entertainment, and luxury items.11 Others are “trading up,” replacing motorbikes with cars and local goods with foreign brands. Busy urban families want greater convenience and are adopting Western-influenced diets and relying on modern financial services.

Asia’s consumers have rapidly embraced cutting-edge communications technologies and use mobile devices to conduct business and shop online at over twice the rate of U.S. consumers. And, as Asia’s people become better off, they are seeking improved health care, new housing, and better education for their children, and are pressing for cleaner air and water, improved sanitation, and modern transit.12

In the coming decade, these megatrends will propel surging imports into the Asia-Pacific. But will America benefit from this tremendous opportunity?

Five Key Sectors for U.S. Exports to Asia

Opportunities Abound... but Many Barriers Remain

Some claim that “America doesn’t make anything anymore.” But, in fact, America is a production powerhouse.

The United States is the world’s largest manufacturer and a global leader in producing an array of high-value consumer and industrial products.13 America is a global force in farming and processed food and the world’s #1 exporter of services.14 U.S. producers and workers have what it takes to supply a wide range of Asia’s growing needs. And they are willing and able to battle for opportunities in growing Asia-Pacific markets, even in the face of serious challenges posed by foreign competitors and foreign governments.

We highlight below five key sectors in which America’s strengths are especially well matched to Asia’s growing needs—while also noting barriers that can keep America from recapturing a greater share of Asia-Pacific trade.

1. Infrastructure Investment

A growing, urban, and more affluent Asia-Pacific region will require massive investment in infrastructure in the coming decades.

The United Nations estimates that Asia will need to spend over $600 billion annually on infrastructure to support new development.15 Cities including Bangkok, Jakarta, and Manila will require billions in investment to build roads and transit; update inadequate power, water, and sanitation systems; and address severe housing shortages.16 And, over the next five years, India alone will spend a trillion dollars on some 600 major infrastructure projects, including many public-private initiatives with foreign firms.17

This significant investment could create vast new export opportunities in Asia for “Made in America” products and services.

As the world’s third-largest exporter of capital equipment, the United States can supply construction equipment, power systems, and other vital machinery for the region’s infrastructure projects.18 U.S. firms are also global leaders in the water treatment systems, renewable energy products, and green building technologies that countries like China, India, and Vietnam will increasingly need to address environmental challenges.19 And with falling U.S. energy costs and rising foreign wages, many U.S. manufacturers are increasing their competitive edge over Asian rivals.20

American companies are also leaders in infrastructure services. Five of the world’s top 10 global design services firms are based in the United States. Large and small U.S. companies can provide world-class architecture, construction, and project management services for the many new cities, airports, hospitals, and schools that the Asia-Pacific region will require.21

But America won’t fully benefit from Asia’s rapid infrastructure growth as long as U.S. exports face an array of trade barriers that favor other foreign suppliers. China and Indonesia, for instance, impose burdensome qualification rules and restrictions on U.S. construction and engineering firms, while restrictive practices have limited U.S. contractors to less than 1% of Japan’s $189 billion public works sector.22 And U.S. and other foreign investors have long been excluded from opportunities to invest in much of Asia’s multi-trillion-dollar infrastructure sector.23

India’s DMIC: The Mother of Infrastructure Projects

India’s $90 billion Delhi Mumbai Industrial Corridor (DMIC) project is colossal in scale. It will include three seaports, six airports, and nine vast industrial zones, all served by extensive, world-class infrastructure.24 The U.S. Commerce Department sees tremendous prospects for U.S. architecture firms in supporting the DMIC, and lucrative opportunities to collaborate in building new housing and commercial buildings in cities such as Bangalore, Chennai, and Kolkata.25

2. Food Demand and Diversity

Consumers in emerging Asia want greater convenience, quality, and safety in their food choices and are moving from Asian staples to Western-influenced diets. Asia’s supermarket sector is also seeing explosive growth.26 These developments are creating growing market opportunities for high-value U.S. foods, including meat, dairy, fruits, vegetables, and prepared foods, as well as key commodities.27

These trends are evident in current U.S. trade data:


  • Higher incomes throughout Southeast Asia have markedly changed eating habits, resulting in surging imports of U.S. meats, animal feed, fresh fruits, potato chips, baked goods, and other foods.28
  • In 2011, eight of the top 15 destinations for U.S. farm exports were in Asia.29

These patterns will continue and accelerate in the coming decades:

  • By 2015, India’s market for convenience and ready-to-eat foods will surge by 40% to 60%.30
  • By 2020, Asia’s demand for food will more than double, to nearly $3 trillion.31
  • By 2030, China, Indonesia, Malaysia, the Philippines, and Vietnam will see major declines in their farm self-sufficiency, requiring more farm imports.32

As global leaders in producing and exporting an extensive menu of food products—from commodities and meats to fruits, vegetables and processed foods—America’s farmers, ranchers, and food manufacturers are in a strong position to help feed Asia’s growing appetite.

One-in-three acres on American farms feeds hungry overseas consumers.33 In 2011, America’s farm sector enjoyed a record $137 billion in exports and a $43 billion trade surplus.34 U.S. farms supply over 50% of world exports of corn and over 40% of global exports of soybeans and cotton.35 Over a third (19 of 50) of the world’s leading food and beverage processing firms are based in the United States, and U.S. processed food exports were almost $50 billion in 2008.36

But it will be difficult to expand America’s share of regional farm trade as long as significant barriers prevent many American foods from reaching Asian tables. Indonesia, Thailand, and Vietnam hit U.S. processed foods with duties of over 50%, while India’s duties on chicken range up to 100%.37 Standards that have no scientific basis can shut out U.S. exports of dairy products (e.g., India), fruits and vegetables (e.g., China), meats (e.g., Malaysia), and organic foods (e.g., Japan).38

The Big Cheese

Where America has a fair shot at foreign markets, we do well. Take pizza: Asian consumers have traditionally not been big on cheese. But, with the booming growth of U.S. food chains like Pizza Hut and McDonalds, the region’s diners increasingly treat themselves to pizza and cheeseburgers. And that requires record amounts of imported cheese. In the first quarter of 2011, U.S. cheese exports to Asia doubled over the same period in 2010. Driven by significant Asian demand, U.S. dairy exports are growing eight times faster than U.S. domestic shipments.39

3. Better Health Care and Education

As they become more prosperous, Asia-Pacific families are demanding better medical care and quality education for their children—and they are willing to pay for both. In Thailand, the middle class spends twice as much on health care and education as lower-income consumers, while China’s consumers spend the highest portion of their incomes on education and medical care. By 2020, Asia’s per-person spending on health care is projected to more than double, almost reaching U.S. levels.40

In many Asia-Pacific countries, health care systems are ill-equipped to meet growing demand. India will need to add 80,000 new hospital beds in each of the next five years just to keep up with local needs.41 And public health experts predict that Asian health systems will be overwhelmed by surging rates of chronic conditions—like cancer and heart disease—that accompany longer lifespans and increased affluence.42

As the world’s #1 market for private health care, the United States is home to the world’s largest and most advanced providers of health care services and to global leaders in drugs and medical devices.43 Asia’s expanding health care needs will afford significant export openings for U.S. firms that build and manage hospitals and develop cutting-edge drugs and devices. For example, the U.S. medical device industry—already the world’s most competitive—should have many opportunities to build on its leading position in markets like India, which is growing 15% annually.44

But even America’s highly competitive health care exports are often no match for trade barriers that continue to exist throughout the Asia-Pacific. Financing and reimbursement policies in many Asia-Pacific markets can limit U.S. drug and medical device exports. And in countries like Indonesia, U.S. pharmaceutical firms face local manufacturing requirements and technology transfer rules that threaten their critical intellectual property rights.45

From Hanoi to Harvard

When a foreign student studies at a U.S. college, that’s a U.S. export of education services. In 2009, America ran an education trade surplus of over $14 billion. During the 2010-2011 school year, 468,000 Asia-Pacific students studied at U.S. universities, accounting for 65% of all foreign students. Asia’s surging demand for instruction (especially in English) is forecast to continue to grow.46 And, with a university system that includes 17 of the world’s top 20 universities, America is well-positioned to capitalize on Asia’s thirst for learning.47

4. Banking, Insurance, and Finance

More than a billion people in Southeast Asia and China currently lack access to financial services.48 Of India’s 1 billion people, only 20 million are covered by health insurance plans.49 And savers in China—with a national savings rate four times higher than America’s—have few attractive investment options to save for retirement.50

As Asia becomes more urban and middle class, addressing these financial service deficits could create vast prospects for America’s world-leading banking, insurance, and finance firms.51 (A third of the world’s 15 largest insurance companies and dozen largest banks are American.52) Asia’s movement toward private pensions could create billions in new business for U.S. finance and insurance providers.53 Asian drivers will need insurance for millions of new cars. And rapid urbanization will require a flood of new housing loans, which are projected to grow 2.2 times—to $3.7 trillion—by 2020.54

But an array of trade and investment restrictions also keeps U.S. firms from grabbing a bigger share of Asia’s surging financial services market. Equity limits, administrative hassles, and restrictions on branch operations limit business for U.S. banks and insurers in India, Indonesia, and Japan. U.S. firms can’t get licenses to provide pensions in China, a market that will add over 125 million seniors by 2020.55 And, China denies full access to its $1 trillion market for electronic payment services, in violation of WTO rules.56

5. A Growing Volume of Vehicles

As the Asia-Pacific grows more affluent, its people are increasingly taking to the roads, rails, and skies. In the coming decade, travel by Asia-Pacific residents will be the fastest growing segment of international travel.57 By 2020:

  • Asia-Pacific residents will account for one-third of the world’s outbound travel spending (up from 21% in 2008).
  • The number of international travelers from the region will almost double (to 447 million).58

And the region’s roads will be increasingly crowded. By 2020, China’s drivers will buy a projected 30 million cars annually. That’s up from 18 million in 2010 and twice the size of the current U.S. auto market. Demand for cars in Indonesia, Malaysia, and Thailand will grow by over 10% annually.59 Analysts forecast that America’s strong transport and vehicle sectors should be exceptionally well-positioned to reap the benefits of growing Asia-Pacific demand.60

As America’s largest exporter of manufactured goods, Boeing sells over 80% of its aircraft to air carriers in over 100 countries.61 The company recently won its largest commercial aircraft order ever, agreeing to sell 230 aircraft for over $22 billion to Lion Air, a fast-growing airline serving Indonesia’s booming market.62

American-made cars account for a growing share of U.S. exports to major Asia-Pacific markets. America’s 10th fastest growing export sector is the export of cars to China, with passenger vehicle exports to China surging from under 29,000 to over 136,000 between 2009 and 2011. Over half of the 50,000 Cadillacs exported from America each year go to China. U.S. auto plants—including the plants of foreign-based carmakers—are also ramping up exports to South Korea, spurred by the recent U.S. trade deal with Korea. Ford is now shipping Fusion Hybrids to Korea and hopes to eventually export up to 10,000 cars annually to that market. Toyota exports Indiana-made Sienna minivans to Korea, while Volkswagen is planning to ship Tennessee-built Passats there as well.63

But further growth in U.S. vehicle exports to Asia will also require clearing away foreign barriers and entrenched practices that obstruct American exports to the region. High duties and other restrictions in the region protect local auto producers. India imposes a 60% duty on U.S. cars, while U.S. auto exports also face high duties and/or discriminatory taxes in countries including Indonesia, Malaysia, Thailand and Vietnam.64 And experts fear that China may use coercive “indigenous innovation” rules to coopt U.S. technologies for its competing China-made C-919 passenger aircraft and for “New Energy Vehicles,” like hybrid and electric cars.65

Emerging Asia Takes to the Skies

Last year, Boeing chose Asia to launch the “world tour” for the new 787 “Dreamliner.”66 It’s no wonder. Half of global growth in air traffic over the next 20 years will be driven by Asia-Pacific travel. By 2030, the Asia-Pacific will need 11,450 new aircraft, valued at over $1.5 trillion.67

The Government’s Vital role

Achieving the Promise of Asia-Pacific Trade

America’s globally competitive manufacturers, farmers, and service firms have many exciting prospects in an Asia-Pacific market that will import over $10 trillion in goods and services in 2020. And they’re willing to do the heavy lifting that’s required to win new business in the region. But only the U.S. Government has the strength to clear away the many trade barriers that foreign governments use to keep U.S. exporters from reaching their full potential and growing America’s share of regional trade.

For America to expand its slice of Asia-Pacific trade, it must:


  • Ensure that our trade officials have the resources they need to promote U.S. exports and enforce America’s rights under international trade rules, through effective programs like the Administration’s National Export Initiative and Interagency Trade Enforcement Center.68
  • Continue aggressive trade enforcement against Asia-Pacific trade barriers that violate existing international trade rules. (See Appendix I.)
  • Forge ahead in negotiating tough, comprehensive trade deals to open key Asia-Pacific markets, beginning with the TransPacific Partnership. (See Appendix II.)

As highlighted previously, Ford, Toyota, and Volkswagen are each ramping up exports of American-built cars to South Korea. This is no coincidence. Rather, it is the direct result of the new Korea-U.S. trade agreement—and persistent bipartisan efforts to use stronger trade rules to gain improved market access for Made-in-America vehicles.

The United States can generate even more exports and support good jobs by aggressively employing trade rules to pry open key Asia-Pacific markets, especially for the many products and services where we have a clear comparative advantage. If we can do this, Asia-Pacific customers will be lining up in ever-growing numbers to “Buy American.”

Appendix I

Recent U.S. WTO Cases against Asia-Pacific Trade Barriers69
Recent_U.S._WTO_Cases_against_Asia-Pacific_Trade_Barriers

Appendix II

U.S. Free Trade Agreements (FTAs) with Major Asia-Pacific Economies70
U.S._Free_Trade_Agreements_(FTAs)_with_Major_Asia-Pacific_Economies

TransPacific Partnership. TPP negotiating partners also include Chile and Peru, with Canada and Mexico joining soon.

Photo of Ed Gerwin
Ed Gerwin

Topics

Endnotes

  1. Yuval Atsmon, Max Magni, Lihua Li, and Wenkan Liao, “Meet the 2020 Chinese Consumer,” McKinsey & Company, March 2012, p. 35. Accessed July 6, 2012. Available at: http://www.mckinseychina.com/2012/03/07/meet-the-2020-chinese-consumer/.

  2. John Deere, for example, now builds smaller tractors that won’t sink in Asian rice paddies. Bryan Gruley and Shruti Date Singh, “Big Green Profit Machine,” Bloomberg Businessweek, July 9-15, 2012, p. 44. Accessed July 9, 2012. Available at: https://www.google.com/#q=big green profit machines bloomberg&hl=en&prmd=imvnsu&source=univ&tbm=nws&tbo=u&sa=X&ei=Tzf7T6P5MuiU0QGmtb3QBg&ved=0CAsQqAI&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=7d29b0f570a39acd&biw=1120&bih=798.

  3. Ed Gerwin, “Boatloads of Growth: Recapturing America’s Share of Asia-Pacific Trade,” Third Way, Report, June 2012. Accessed July 3, 2012. Available at: http://www.thirdway.org/publications/536. Third Way projects that imports by 12 leading Asia-Pacific economies will grow (in constant 2010 dollars) from $4.38 trillion in 2010 to $9.63 trillion in 2020; See also John Deere, for example, now builds smaller tractors that won’t sink in Asian rice paddies. Bryan Gruley and Shruti Date Singh, “Big Green Profit Machine,” Bloomberg Businessweek, July 9-15, 2012, p. 44. Accessed July 9, 2012. Available at: https://www.google.com/#q=big green profit machines bloomberg&hl=en&prmd=imvnsu&source=univ&tbm=nws&tbo=u&sa=X&ei=Tzf7T6P5MuiU0QGmtb3QBg&ved=0CAsQqAI&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=7d29b0f570a39acd&biw=1120&bih=798.

  4. United Nations, Department of Economic and Social Affairs, Populations Division, “World Urban Prospects–The 2011 Revision,” p. 15. Accessed July 5, 2012. Available at: http://esa.un.org/unpd/wup/pdf/WUP2011_Highlights.pdf; See also “Imaging Asia 2020: Make Way for the Asia Giant,” DBS, pp. 26-27. Accessed July 5, 2012. Available at: http://www.dbs.com/TreasuresPrivateClient/Documents/PDF/DBS_IMAGINING_ASIA_2020.pdf.

  5.  “Imaging Asia 2020: Make Way for the Asia Giant,” DBS, p. 26. Accessed July 5, 2012. Available at: http://www.dbs.com/TreasuresPrivateClient/Documents/PDF/DBS_IMAGINING_ASIA_2020.pdf; By 2025, 22 of the world’s 37 ten-million-plus “megacities” will be in Asia. By 2030, China and India alone will have added over a half billion urban dwellers. “World Urban Prospects–The 2011 Revision,” pp. 5-13.

  6. Michael McConnell, “US Agricultural Exports to ASEAN Grow–But Face Competition,” Asia Pacific Bulletin, No. 155, East-West Center, March 22, 2012. Accessed April 17, 2012. Available at: http://www.eastwestcenter.org/sites/default/files/private/apb155.pdf. ASEAN member countries are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. 

  7. United States, Department of Commerce, International Trade Administration, “Health Care Technologies Resource Guide: A Reference for U.S. Exporters to World Markets,” 2011-2012 Edition, p. 120. Accessed July 6, 2012. Available at: http://ita.doc.gov/td/health/2012healthcareguide.pdf.

  8.  “Imaging Asia 2020: Make Way for the Asia Giant,” DBS, p. 39. Accessed July 5, 2012. Available at: http://www.dbs.com/TreasuresPrivateClient/Documents/PDF/DBS_IMAGINING_ASIA_2020.pdf.

  9. “Trading Places: The emergence of new patterns of international trade,” Ernst & Young, 2011, p. 7. Accessed April 11, 2012. Available at: http://www.ey.com/GL/en/Issues/Business-environment/Trading-places--New-patterns-of-international-trade; See also Karen Harris, Austin Kim, and Andrew Schwedl, “The Great Eight: Trillion Dollar Growth Trends to 2020,” Bain & Company, September 9, 2011. Accessed April 11, 2012. Available at: http://www.bain.com/publications/articles/eight-great-trillion-dollar-growth-trends-to-2020.aspx.

  10.  “Imaging Asia 2020: Make Way for the Asia Giant,” DBS, p. 30. Accessed July 5, 2012. Available at: http://www.dbs.com/TreasuresPrivateClient/Documents/PDF/DBS_IMAGINING_ASIA_2020.pdf; Growing affluence will be concentrated in urban areas. In urban China, for instance, “mainstream” households (making between $16,000 and $34,000) will surge from six percent of the urban population in 2010 to 51 percent in 2020. Yuval Atsmon, Max Magni, Lihua Li, and Wenkan Liao, pp. 14-15.

  11. For instance, China is adding 1.65 new movie screens every day, reflecting the rapid growth in demand for entertainment services. United States, U.S. International Trade Commission, “Recent Trends in U.S. Services Trade,” July 2011, Pub. No. 4243, Inv. No. 332-345, p. 3-16. Accessed April 18, 2012. Available at: http://www.usitc.gov/publications/332/pub4243.pdf.

  12. DBS, pp. 22-27. See also Yuval Atsmon, Max Magni, Lihua, li, and Wenkan Liao, pp. 20-33. See also “TIME Mobility Poll, in cooperation with Qualcomm,” August 16, 2012, p. 6. Accessed September 5, 2012. Available at: http://www.qualcomm.com/media/documents/time-mobility-poll-cooperation-qualcomm.

  13. United Nations Industrial Development Organization, “Statistical Country Briefs– Country’s Share in Regional and World MVA and Manufactured Exports–United States,” 2010 UNIDO Estimate. Accessed August 14, 2012. Available at: http://www.unido.org/Data1/IndStatBrief/B_Shares_of_World_MVA_and_Trade.cfm?print=no&ttype=B&Country=USA&Group=. The United States accounts for almost a quarter of global manufacturing value added. Ibid. Indeed, if America’s manufacturing sector were a separate country, it would be the world’s ninth-largest economy. Gregory Zuckerman, “The Market’s New Motto–‘Made in the U.S.A.,” The Wall Street Journal, April 28, 2012. Accessed July 9, 2012. Available at: http://online.wsj.com/article/SB10001424052702304811304577369771991833552.html. Studies particularly underscore America’s strong comparative advantage as a global exporter of high-technology and R&D-intensive products. “Asia’s Role in the New United States Export Economy,” Asian Development Bank, ADB Economics Working Paper Series, No. 250, February 2011, pp. 5-11. Accessed July 10, 2012. Available at: http://www.adb.org/Documents/Working-Papers/2011/Economics-WP250.pdf.

  14. United States, Census Bureau, U.S. Bureau of Economic Analysis, “U.S. International Trade in Goods and Services—February 2012,” April 12, 2012, Exhibit 1. Accessed July 10, 2012. Available at: http://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf. 

  15. “Asia-Pacific: Heavy Construction Sectors,” Mergent, April 2011. Accessed July 11, 2012. 

  16. DBS, pp. 26-27.

  17. “US firms keen to invest in India’s infrastructure projects,” IANS, March 27, 2012. Accessed July 11, 2012. Available at: http://in.finance.yahoo.com/news/us-firms-keen-invest-indias-095655985.html. 

  18. United States, Department of Commerce, International Trade Administration, “Machinery Manufacturing: A Major Component of U.S. Exports,” April 25, 2012. Accessed July 11, 2012. Available at: http://www.trade.gov/mas/manufacturing/oaai/tg_oaai_003832.asp. 

  19. Daniel Tien Simon, “Building Sustainable Cities in Asia: Presenting Opportunities for U.S. Companies,” United States Department of Commerce, 2012 Asia-Pacific Business Outlook, March 28, 2012. Accessed April 17, 2012. Available at: http://blog.trade.gov/2012/03/28/building-sustainable-cities-in-asia-presenting-opportunities-for-u-s-companies/. 

  20.  Gregory Zuckerman, “The Market’s New Motto–‘Made in the U.S.A.,” The Wall Street Journal, April 28, 2012. Accessed July 9, 2012. Available at: http://online.wsj.com/article/SB10001424052702304811304577369771991833552.html.

  21. “The Top 150 Global Design Firms: 2011,” Engineering News-Record. Accessed July 11, 2012. Available at: http://enr.construction.com/toplists/GlobalDesignFirms/001-100.asp. 

  22. United States, Office of the U.S. Trade Representative, “2012 National Trade Estimate on Foreign Trade Barriers,” pp. 76-77, 201, and 217-18. Accessed July 20, 2012. Available at: http://www.ustr.gov/about-us/press-office/reports-and-publications/2012-1.

  23. Naveen Tahilyani, Toshan Tamhane, and Jessica Tan, “Asia’s $1 trillion infrastructure opportunity,” McKinsey & Company, March 2011. Accessed August 13, 2012. Available at: https://www.mckinseyquarterly.com/Asias_1_trillion_infrastructure_opportunity_2765. 

  24. Lavanya Kumari, “Delhi Mumbai Industrial Corridor (DMIC) Project Map,” July 1, 2011. Accessed July 11, 2012. Available at: http://aadhaarstaff.blogspot.com/2011/07/delhi-mumbai-industrial-corridor-dmic.html. 

  25. United States, Commerce Department, International Trade Administration, “U.S. Architecture Services Trade Mission to India; Channai, Kolkata and Bangalore, India; October 15-19, 2012,” Federal Register, May 29, 2012, pp. 31581-84. Accessed July 11, 2012. Available at: https://www.federalregister.gov/articles/2012/05/29/2012-12931/us-architecture-services-trade-mission-to-india-chennai-kolkata-and-bangalore-india-october-15-19.

  26. T.J. Burnham, “Asian Supermarkets Growing at Record Pace: Offer Export Opportunities,” American Agriculturalist, February 27, 2012. Accessed July 13, 2012. Available at: http://farmprogress.com/story-asian-supermarkets-growing-record-pace-offer-export-opportunities-0-56904. 

  27. United States, Department of Agriculture, Economic Research Service, “Income Growth in Developing Countries Can Increase U.S. Agricultural Exports,” March 2011, pp. 2-3. Accessed April 17, 2012. Available at: http://www.ers.usda.gov/amberwaves/march11/features/incomegrowth.htm.

  28. Michael McConnell. Indonesia saw rapid annual growth in imports of U.S. dairy products (30 percent), snack foods (20 percent), and fresh fruit (17 percent). “Income Growth in Developing Countries Can Increase U.S. Agricultural Exports,” pp. 2-3.

  29. United States, Department of Agriculture, Economic Research Service, “Top 15 U.S. agricultural export destinations, by calendar year, value $U.S.,” February 2012. Accessed April 17, 2012. Available at: http://www.ers.usda.gov/Data/FATUS/. 

  30. Rory Harrington, “Indian metro consumers set to fuel demand hike in processed food – report,” Food Navigator Asia, January 5, 2011. Accessed July 11, 2012. Available at: http://www.foodnavigator-asia.com/Markets/Indian-metro-consumers-set-to-fuel-demand-hike-in-processed-food-report. 

  31. DBS, p. 14. China alone is forecast to account for over 85 percent in the growth of global demand for soybeans. United States, Department of Agriculture, “USDA Agricultural Projections to 2019,” February 2010, p. 33. Accessed April 18, 2012. Available at: http://www.usda.gov/oce/commodity/archive_projections/USDAAgriculturalProjections2019.pdf.

  32. Kym Anderson, Shikha Jha, Signe Nelgen, and Anna Strutt, “Reexamining Policies for Food Security in Asia,” Asia Development Bank, No. 301, February 2012, p. 20. Accessed July 11, 2012. Available at: http://www.adb.org/publications/reexamining-policies-food-security; At the same time, there will be a very significant growth in the Asia-Pacific’s per capita consumption of meat, fruits, and vegetables. Siwa Msangi and Mark Rosegrant, “Feeding the Future’s Changing Diets,” 2020 Conference: Leveraging Agriculture for Improving Nutrition and Health, February 10-12, 2011, New Delhi, India, Paper No. 3, Advance Copy, p. 5. Accessed July 11, 2012. Available at: http://www.ifpri.org/sites/default/files/publications/2020anhconfpaper03.pdf.

  33. United States, Department of Agriculture, Foreign Agriculture Service, “National Export Initiative: Importance of U.S. Agricultural Exports,” February 2010. Accessed July 10, 2012. Available at: http://www.fas.usda.gov/info/factsheets/tradevalue.pdf.

  34. United States, Department of Agriculture, Economic Research Service and Foreign Agricultural Service, “Outlook for U.S. Agricultural Trade,” AES-74, May 31, 2012. Accessed July 10, 2012. Available at: http://usda01.library.cornell.edu/usda/current/AES/AES-05-31-2012.pdf. 

  35. United States, Census Bureau, “The 2012 Statistical Abstract,” Table 852 - “Selected Farm Products- U.S. and World Production and Exports: 2000 to 2010.” Accessed July 10, 2012. Available at: http://www.census.gov/compendia/statab/cats/agriculture.html. Half or more of U.S. production of commodities like rice, wheat, and almonds is destined for foreign markets. Ibid.

  36. United States, Department of Commerce, “Industry Outlook, Food Manufacturing NAICS 311.” Accessed July 10, 2012. Available at: http://www.ita.doc.gov/td/ocg/outlook10_food.pdf. 

  37. “2012 National Trade Estimate on Foreign Trade Barriers,” pp. 196, 367, 401, and 182.

  38. United States, Office of the U.S. Trade Representative, “Report on Sanitary and Phytosanitary Measures, “ March 2012, pp. 52, 35, and 62. Accessed July 20, 2012. Available at: http://www.ustr.gov/webfm_send/3324; See also United States, Office of the U.S. Trade Representative, “Report on Technical Barriers to Trade,” March 2012, pp. 78-79. Accessed July 20, 2012. Available at: http://www.ustr.gov/webfm_send/3323. 

  39. Brian Chappalta, “Asia Pizza Demand Boosts U.S. Cheese Exports, Kraft’s Costs,” Bloomberg, July 15, 2011. Accessed July 12, 2012. Available at: http://www.bloomberg.com/news/2011-07-14/pizza-demand-in-asia-boosts-u-s-cheese-exports-kraft-s-costs.html. 

  40. DBS, pp. 15, 24.

  41. “Health Care Technologies Resource Guide: A Reference for U.S. Exporters to World Markets,” p. 120.

  42. Simeon Bennett and Kanoko Matsuyama, “Asia’s cancer rate may jump almost 60 percent by 2020,” The New York Times, April 23, 2007. Accessed July 12, 2012. Available at: http://www.nytimes.com/2007/04/23/business/worldbusiness/23iht-23cancer.5403033.html.

  43. “Recent Trends in U.S. Services Trade,” pp. 6-1 to 6-13.

  44. “Health Care Technologies Resource Guide: A Reference for U.S. Exporters to World Markets,” pp. 113-138; See also United States, U.S. International Trade Commission, “Medical Devices and Equipment: Competitive Conditions Affecting U.S. Trade in Japan and other Principal Foreign Markets,” Inv. No. 332-474, Pub. 3909, p. xiii. Accessed July 12, 2012. Available at: http://www.usitc.gov/publications/332/pub3909.pdf.

  45. “Recent Trends in U.S. Services Trade,” p. 6-1. See also “2012 National Trade Estimate on Foreign Trade Barriers,” p. 197.

  46. “Recent Trends in U.S. Services Trade,” pp. 5-1 to 5-12; See also Grace Ruch, “International Relations 101: U.S. Colleges Admit Surge of Asian Students: U.S. Study Abroad to Asia Pacific Also Rises,” Australia Matters for America, February 3, 2012. Accessed April 18, 2012. Available at: http://www.australiamattersforamerica.org/2012/02/asian-students-in-us-colleges-study-abroad-to-asia-pacific-rises/. 

  47. “Academic Ranking of World Universities – 2011,” ARWU.org. Accessed July 12, 2012. Available at: http://www.shanghairanking.com/ARWU2011.html. 

  48. “More than a billion people do not have access to financial services in ASEAN China,” Asian Trends Monitoring. Accessed July 13, 2012. Available at: http://asiantrendsmonitoring.com/wp-content/uploads/2011/09/finance-ICT.pdf.

  49. “Health Care Technologies Resource Guide: A Reference for U.S. Exporters to World Markets,” p. 120.

  50. International Monetary Fund, “World Economic Outlook Database,” April 2012, China and United States-Gross National Savings-Percentage of GDP. Accessed July 13, 2012. Available at: http://www.imf.org/external/pubs/ft/weo/2012/01/weodata/weorept.aspx?sy=2010&ey=2017&ssd=1&sort=country&ds=.&br=1&c=924&s=NGSD_NGDP&grp=0&a=&pr1.x=60&pr1.y=9. http://www.imf.org/external/pubs/ft/weo/2012/01/weodata/weorept.aspx?sy=2010&ey=2017&ssd=1&sort=country&ds=.&br=1&c=111&s=NGSD_NGDP&grp=0&a=&pr1.x=67&pr1.y=11. 

  51. Ernst & Young, p. 4.

  52. “World’s Largest Banks–2012 (by market cap),” and “Top Insurance Companies,” relbanks.com. Accessed July 13, 2012. Available at: http://www.relbanks.com/.

  53. Karen Harris, Austin Kim, and Andrew Schwedl, pp. 11-12.

  54. DBS, p. 5.

  55. “2012 National Trade Estimate on Foreign Trade Barriers,” pp. 186-87, 200, 211-14, and 73-75; See also Yuval Atsmon, Max Magni, Lihua Li, and Wenkan Liao, pp. 23-24.

  56. United States, Office of the U.S. Trade Representative, “United States Wins Electronic Payment Services Dispute with China,” July 2012. Accessed August 13, 2012. Available at: http://www.ustr.gov/about-us/press-office/press-releases/2012/july/us-wins-services-dispute-with-china.

  57. “The Travel Gold Rush 2020,” Amadeus and Oxford Economics, p. 12. Accessed July 11, 2012. Available at: http://www.amadeus.com/amadeus/x189820.html.

  58. Ibid. Amadeus and Oxford Economics, p. 12. Outbound spending by Chinese tourists alone will reach a projected $222 billion (up from $52 billion in 2010). Ernst & Young, p. 23. U.S.-based firms are also poised to provide travel and hospitality services to Asia’s growing number of travelers. In 2010, the United States saw record numbers of visitors from Australia, China, India, and South Korea. Seven of the world’s 10 largest hotel chains are American, as are five of the globe’s top 10 busiest airlines. United States, Department of Commerce, International Trade Administration, Office of Travel and Tourism Industries, “U.S. Travel and Tourism Industries: A Year in Review 2010.” Accessed July 11, 2012. Available at: http://tinet.ita.doc.gov/pdf/2010-year-in-review.pdf; See also “The Top 10 Hotel Groups in the World: Shows Few Changes,” Hotel Online, May 2012. Accessed July 11, 2012. Available at: http://www.hotel-online.com/News/PR2012_2nd/May12_HotelRankings.html; See also “Scheduled Passenger-Kilometers Flown, Total,” IATA. Accessed July 11, 2012. Available at: http://www.iata.org/ps/publications/Pages/wats-passenger-km.aspx.

  59. DBS, pp. 32-33.

  60. Ernst & Young, pp. 24-25.

  61. Letter from Tim Keating, Senior Vice President, The Boeing Company to Barbara Weisel, Assistant U.S. Trade Representative for Southeast Asia and the Pacific, March 5, 2009. Accessed July 11, 2012. Available at: http://www.regulations.gov/#!documentDetail;D=USTR-2009-0002-0011. 

  62. Francisco Sanchez, “The Asia-Pacific: Important for America’s Economic Future,” Tradeology, the Official Blog of the ITA, U.S. Department of Commerce, International Trade Administration, April 3, 2012. Accessed July 11, 2012. Available at: http://blog.trade.gov/2012/04/03/the-asia-pacific-important-for-americas-economic-future/. 

  63. United States, Department of Commerce, “Growth Trends in U.S. Vehicle Exports,” 2012. Accessed July 3, 2012. Available at: http://trade.gov/mas/manufacturing/OAAI/build/groups/public/@tg_oaai/documents/webcontent/tg_oaai_003833.pdf; See also “HSBC Global Connections, Trade Forecast Update: USA,” HSBC, February 2012. Accessed August 1, 2012. Available at: http://www.joc.com/joc_inc/pdf/FINAL_HSBC_US_TRADE_FORECAST_FEB_21_2012.pdf.

  64. “2012 National Trade Estimate on Foreign Trade Barriers,” pp. 182, 198, 256, 369, and 401.

  65. “2012 National Trade Estimate on Foreign Trade Barriers,” pp. 87, 62; See also James McGregor, ”China’s Drive for ‘Indigenous Innovation’: A Web of Industrial Policies,” Report Prepared by APCO Worldwide for the U.S. Chamber of Commerce, p. 33. Accessed July 27, 2012. Available at: http://www.uschamber.com/sites/default/files/reports/100728chinareport_0.pdf. 

  66. “Dreamliner launches its world tour in China,” China.org.cn, December 5, 2011. Accessed April 16, 2012. Available at: http://www.china.org.cn/business/2011-12/05/content_24074280.htm. 

  67. Boeing, “Long-Term Market: Current Market Outlook 2011-2030,” 2011. Accessed April 16, 2012. Available at: http://www.boeing.com/commercial/cmo/. 

  68. United States, Department of Commerce, “The Department of Commerce Budget in Brief, Fiscal Year 2013,” John E. Bryson, Secretary, pp. 53-58. Accessed April 24, 2012. Available at: http://www.osec.doc.gov/bmi/budget/FY13BIB/fy2013bib_final.pdf; See also United States, Office of the U.S. Trade Representative, “Launch of the Interagency Trade Enforcement Center (ITEC).” Accessed August 29, 2012. Available at: http://www.ustr.gov/about-us/press-office/blog/2012/february/launch-interagency-trade-enforcement-center-itec.

  69. World Trade Organization, “Dispute Settlement: The Disputes–Chronological list of disputes cases.” Accessed July 23, 2012. Available at: http://www.wto.org/english/tratop_e/dispu_e/dispu_status_e.htm. 

  70. United States, Office of U.S. Trade Representative, “Free Trade Agreements.” Accessed July 24, 2012. Available at: http://www.ustr.gov/trade-agreements/free-trade-agreements. 

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