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Global Recovery: Boon to Engineering
By Lawrence Maloney, V.P. & Editorial Director -- Design News, March 27, 1995
This year, for the first time since 1976, the economy will grow in virtually every corner of the globe. Name a country, and economists predict solid gains in the gross domestic product in 1995. In Europe, Germany and France are both expected to grow by 3%, while Great Britain is forecast to be up 4%. In North America, the United States and Canada will grow by more than 3%. Brazil and Chile will be up 6%, and Argentina 4.5%. The outlook is even brighter in Asia, where China's surging economy should advance 9.5%, while South Korea will grow nearly 8%. Even Japan, still recovering from a tragic earthquake, will see its economy climb by 3%.
Helping to ensure more economic progress in the years ahead is a whole series of vital economic agreements. The European Community is welcoming new nations to its fold and encouraging a broader exchange of goods and services. The North America Free Trade Agreement (NAFTA) has created similar benefits for the U.S., Mexico, and Canada. Meanwhile, nations everywhere will gain from the successful conclusion of the General Agreement on Tariffs and Trade (GATT). Never before in history has the world enjoyed a greater and freer climate for trade. With the enormous productivity gains of recent years, U.S. companies in particular can savor their best export opportunities of the postwar period.
In this healthy global economy, engineers everywhere will be challenged to design truly world-class products. They will be able to specify the best materials, components, and systems from suppliers all around the world. Engineers will travel more and learn about a wider range of technologies. Increasingly, they will work together with engineers from other companies and countries in technical alliances. What's more, their jobs will be made more productive by new and better computer tools. In short, as the world economy grows in the balance of the '90s, engineers will grow right along with it.
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