Bid to Revive Export-Import Bank Runs Aground
Foreign Policy cites Senior Fellow Ryan Young on the Ex-Im bank:
“It’s the ‘they do it, too’ fallacy,” said Ryan Young of the Competitive Enterprise Institute. “The U.S. should not copy a Chinese policy mistake.”
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“There is no traction right now for any bill” in the Senate, Young said—especially one that would reauthorize the agency for 10 years, giving little chance at congressional oversight in the meantime.
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“When Ex-Im went away, exports still bloomed,” Young said. Even at full capacity, the bank used to underwrite only about $20 billion worth of deals a year—a tiny fraction of overall U.S. exports. “Almost 99 percent of U.S. exports happen without Ex-Im involvement,” he said.