UPS’s Davis: Increased trade key to recovery

UPSÆs Davis: Increased trade key to recovery    UPS's top official told a business gathering, “global trade is the quickest and surest way to accelerate global growth, create new jobs and improve living standards.”

Davis

   Scott Davis, UPS’s chairman and chief executive officer, said, “We’ll have to regain prosperity the old fashioned way, not by household borrowing and spending but instead by earning it through innovation, increased production and aggressive marketing in other countries.”
   More than 95 percent of the world’s potential customers are located outside the United States, Scott said at the Americas Competitiveness Forum in Atlanta. “Frankly, given the massive scale of this world economy, I’m astonished that U.S. businesses aren’t more vocal in demanding better access to this huge wave of global consumers.”
   Davis, a member of President Obama’s Export Council, expressed deep concern about Congress’ failure to approve negotiated trade agreements with South Korea, Colombia and Panama, which the U.S. Chamber of Commerce said has cost some 380,000 U.S. jobs at a time when there is 9.6 percent unemployment.
   He also criticized recent “buy America” provisions that block foreign firms from bidding on major contracts with the federal government. “These provisions put very important trade partnerships at risk — an outright deal killer” for U.S. companies seeking to sell internationally, he added.