Large manufacturers are usually strong supporters of the Export-Import Bank, which is why the below clip is interesting: A Lockheed Martin site director in South Carolina, Don Erickson, is asked whether or not the Ex-Im Bank is good for Boeing and South Carolina. His answer: Yes and no. Ex-Im does help Boeing compete against Airbus in some ways, he says, which is a good thing for Boeing and South Carolina, where Boeing has plants. But, he points out, it’s not clear this is a net boost for the state: If Boeing weren’t subsidized, it might have to find other ways to be more cost-competitive, like moving more manufacturing to low-cost states such as . . . South Carolina.
Ex-Im, in other words, isn’t a “win-win,” and it’s always going to be distorting the free market.
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