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WORRIED ABOUT YOUR JOB or the health of the U.S. economy? You don't have to be an economist to see that if a country exports less than imports, it could have a negative effect on the economy. As the Gross Domestic Product decreases, so does the number of jobs. Interestingly, the U.S. has been operating at a deficit for years. According to Census.gov, since 1976 we've been importing more than exporting.
The same site published: “For goods, the deficit was $810.0 billion in 2017, up from $752.5 billion in 2016. For services, the surplus was $244.0 billion in 2017, down from $247.7 billion in 2016.”
So what can we do to help turn the tables? 3D printing.
A 3D-PRINTED ECONOMY
In a report titled “3D printing: a threat to global trade,” ing predicts that printing good could cut trade between countries by 40%: “For now it has very little effect on cross-border trade. This will change once high speed 3D printing makes mass production with 3D printers economically viable. The first technical steps have already been taken…3D printers use far less labour, reducing the need to import intermediate and final goods from low wage countries.”
Admitting that it is tricky to define the exact potential of 3D printing, ing said some experts expect a share of 50% in manufacturing over the next two decades. Depending on growth and investment the report suggested that 50% of manufactured goods will be printed by 2060 with current investment growth. This figure could possibly be achieved as early as 2040 if investments double every five years.
In addition, 3D printing is estimated to wipe out almost one-quarter of world trade by 2060 under scenario I (or two-fifths by 2040 under scenario II). This would largely affect the automotive industry. This might change the way car manufacturers and aftermarket conduct business. Not only are you...