But filling the quota is not enough. The Senate approved the request but the House Appropriations Committee argues that IMF's programs and policies need reform ing and that quotas are not in balance. Reform might be needed, but a forever-widening trade deficit between the United States and the Asian region takes priority. As House members clamor for new IMF policy revisions, it certainly must be aware of how crucial Asian economies are to American investors, businesses and exporters. The global economy works holistically, and IMF's rescue packages promote global economic stability and enable countries that are markets for U.S. exports to recover from financial crises.
Additional funding is crucial for foreign and American exporters.
The Asian region gets nearly 22 percent of all American exports. A lot of jobs are involved. Minnesota is particularly dependent on exports to Asia. In 1996, The Minnesota Department of Trade and Economic Development announced for the first time that Asia accounts for 34.7 percent of total Minn esota exports. The European Union only gets 26.2 percent.