Ted Bauman’s Insights on Foreign Trade and Ways to Avoid it in the U.S.
Ted Bauman spends his days providing people with the resources they need to protect their business from third-party involvement such as corporate greed or governmental oversight. A graduate from the University of Cape Town, studying Economics and History, in addition to 25 years of experience as a fund manager for non-profit organizations give him the knowledge and field experience to understand how the economy affects the working class and manufacturers. Nowadays, Bauman resides in Atlanta, Georgia and discusses asset protection, low-risk investment strategies and other areas in the realm of corporate privacy as the editor of The Bauman Letter.
Ted Bauman takes part in the economic conversation of the occurring events happening in the United States and globally. Recently in an article published in Forbes Bauman discusses the importance of understanding foreign income in America. The article discusses Harley Davidson and their decision to take their production over to Europe in order to lower costs on European tariffs and be able to sell their products to the E.U. at a moderate price. However, the article also points out the question that perhaps the reason for this change may be in the higher expense of wages that the U.S. has in comparison to the EU.
To better understand the root of that question Ted Bauman analyzes what occurs when raising wages in the United States. If that is the goal it is safe to say that economic growth is usually the cause of wages being raised. While this sounds like a positive option, some businesses may choose to make decisions such as raising interests rates or reducing investments to keep wages controlled.
Ted Bauman finds that in order for businesses to thrive they must first empower their employs by slowly raising wages. This, in turn, will increase productivity which allows manufacturers to have more opportunities to create demand. For instance, adding more or new products to their inventory or improving the quality of current products. Ted Bauman ultimately understands that ignoring foreign trade may hurt the United States economy yet there are still ways American manufacturers can stay above the competition while still empowering their employees with better wages.