UPS CEO: Exports Key to Economic Rebound

A boost in exports is the catalyst that the U.S. economy needs to rebound, according to Scott Davis, UPS's UPS chairman and CEO. “In my view, global trade is the quickest and surest way to accelerate global growth, create new jobs and improve living standards,” Davis said in remarks today at the American Competitiveness Forum here. “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, the CEO told the audience. “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.”