1. 1. , A , A : ( ) & 2014 Washington, DC 2013
2. 2. 2 . 4 : - ......................................................................................... 5 1. ......................................................................................................................... 6 2. ......................................................................................................................................... 7 2.1 :................................................................................................................. 7 2.2 :........................................................................................................................................... 7 2.3 ...................................................................................................... 8 : .............................................................. 10 : ......................................................................................... 13 1. ......................................................................................................................................... 13 2. ......................................................................................... 15 2.1 ............................................................................................................................................... 15 2.2 - .................................................................. 19 2.3 .................................................................................................................................. 23 2.4 ................................................................................................................................. 26 2.5 ....................................................................................... 27 3. ....................................................................................................... 34 : ..................................................................................................... 36 1. .............................................................................................. 36 2. (FTAs)........................................................................................ 36 3. ..................................................................................................... 37 4. (-)..................................................................................................... 42 4.1 & ........................... 42 4.2 ......................................... 44 4.3. - ............................. 45 4.4 - ................................................................................................... 46 5. ....................................................................................................... 46 6. ................................................................................................................. 48 6.1 .................................................................................................................... 49 6.2 /FSMA.................................................. 50 6.3 /// / ........... 51 6.4 /BSE comprehensive Rule................... 51 : ................................................................................ 52 1. .............................................................................................................................. 52 1.1 .............................................................................. 52 1.2 ( ) ................................................... 59 1.3 .................................................. 74 1.4 .............. 83 1.5 ( )....................................... 105 2. ....................................................................................................................... 114 2.1 (10 ) ..................................................... 114 2.2 10 ..................................... 121 3. ..................................................................................................... 133 : ............................................................................................................. 136 1. .............................................................................................................. 136 2. .......................................................................................... 143 3. - ......................................................................................................... 147 : .................................................................................................................. 150 1. ....................................................... 150 2. -................................................................................................ 154 3. ....................................................... 155 4. ............................................................................... 155
3. 3. 3 : ................................................................................... 159 1. ................................................................. 159 2. ........................................................................................................ 173 3. / Trademarks ..................................................................................................... 174 4. ............................................................................................ 182 5. ................................................................................................... 183 6. .............................................................................. 184 7. ........................................................................................................................ 184 : 2013 ................................................ 185 ................................................................................................................................... 188 . ............................................................................................... 188 . ............................................ 190 . ......................................................................... 197 . ................................................................................................................... 202 . .......................................................................................... 216
4. 4. 4 1: , 2011-2013 ................................................................................. 15 2: (sequester) 2013 ........................................... 16 3: .................................................. 17 4: ................ 18 5: , 20082013................................ 20 6: , .................. 22 7: (2007-2014) ( )................................................... 24 8: ....................................................................................................... 25 9: ................................................................................................. 27 10: ()............................................................. 30 11: / .............. 33 12-13: - , `09-13 .. 73 14: 2003-2013 ....................... 136 15: , 2001-2012......................................................... 143 16: , 2001- 2012 ..................... 144 17: ............................................................ 147 ------------------------------------------------------------------------------------------------------- 1: 2010-2013...................................................................................... 19 2: ( ) 2013................................................. 22 3: ( 2003-2013).......................................................................... 24 4: , (20072013)................................................ 29 5: , (20072013)............................................ 29 6: 10 () 2013......................................................... 32 7: .............................................................................. 37 8: , , 2004-2013.... 54 9: , 1994-2013 ......................................................................... 55 10: , 2000-2013....................... 57 11: , 1994-2003 & 2004-2013................................................ 58 12: 25 , 2009- 2013 ........................ 62 13: , 2009- 2013......................... 68 14: - , 2009-2013...... 72 15: 10 .................... 77 16: >50%, 2009-2013... 87 17: 10% grosso modo . 15 466,520 % 2013/2012 24.8% 201316 . . % 2013/2012 2,280,194 (1,653,392.8 . ) 2.9 2,756,586 (1,998,829.7 . ) 0.1 -476,392 (-345,436.9 . ) -11.4 2013 % 2013/2012 ( $) 17 16,799.7 (12,181.6 ) 3.4 18 49,115 14.8 http://bea.gov/iTable/iTable.cfm?ReqID=2&step=1#reqid=2&step=10&isuri=1&202=1&203=22&204=10&20 5=1,2&200=2&201=1&207=43,42,41,40&208=2&209=740, Foreign Direct Investment in the U.S., Foreign Direct Investment Position in the United States on a Historical-Cost Basis. 12 (International Trade Commission), , www.usitc.gov 13 .. 14 www.usitc.gov 15 2013, (www.sete.gr). 2012 373.831 . 2,6% 2013 2,4% 2012. 17.919.580 (% 2013/2012: 15,5%). http://sete.gr/_fileuploads/entries/Statistics/Greece/International%20Tourist%20Arrivals%20(Non- Residents)/catID51/GR/140425_Afikseis%20mi%20katoikon%20kata%20xora%20proelefsis_Jan-Dec2013- 2012.pdf 16 Bureau of Economic Analysis, http://www.bea.gov/newsreleases/international/trade/tradannnewsrelease.htm (U.S. International Transactions Accounts Data, 4.6.2014, ) 17 Current-dollar real GDP ( 25.6.2014), http://www.bea.gov/national/index.htm
5. 12. 12 (35,614 ) . . % 2012/2011 19 2,650,832 (1,922,146,3 . ) 5.9 20 4,453,307 (3,229,140,0 . ) 9.0 % 2013/2012 ( .)21 11,460 -8.4 (% - , 2013)22 232,957 (CPI) 1.5 ( $)23 -641 (-464,8 ) -43.2 ( $)24 12,064 (8,747,7 ) 6.6 * EURO/USD 2013, (1 EURO= 1.3791 USD), http://sdw.ecb.europa.eu/browse.do?node=2018794, http://sdw.ecb.europa.eu/quickview.do?node=2018794&SERIES_KEY=120.EXR.A.USD.EUR.SP00 .E (Annual US dollar-end of period) : 1. 2. . , ( ) . 18 Per capita real GDP ( 6.6.2013), http://bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm 19 2013. . http://www.bea.gov/iTable/iTable.cfm?ReqID=2&step=1#reqid=2&step=10&isuri=1&202=1&203=30&204=9 9&205=1,2&200=1&201=1&207=43&208=2&209=2, Foreign Direct Investment Position in the United States on a Historical-Cost Basis 20 2013. . http://www.bea.gov/iTable/iTable.cfm?ReqID=2&step=1#reqid=2&step=10&isuri=1&202=1&203=22&204=9 9&205=1,2&200=2&201=1&207=43,42&208=2&209=2, U.S. Direct Investment Position Abroad on a Historical-Cost Basis 21 Bureau of Labor Statistics, www.bls.gov. 7.4% 2013, 8.1% 2012 8.9% 2011 ( 16 ), http://www.bls.gov/cps/cpsaat01.htm, http://www.bls.gov/cps/cpsaat01.pdf (Household data, Annual averages, Employment status of the civilian non-institutional population) 22 http://www.usinflationcalculator.com/inflation/consumer-price-index-and-annual-percent-changes-from- 1913-to-2008/ 23 , -4.0% 2013, -7.3% 2012, Congressional Budget Office, Congress of the United States, www.cbo.gov, http://www.cbo.gov/sites/default/files/cbofiles/attachments/08-22-2012- Update_to_Outlook.pdf 24 , 76.1% 2013, 72.8% 2012. . ..
6. 13. 13 : 1. momentum, 2013 . - , , , , , , ( ), . , 1,9% , . , 2013, , . , Q4/201225 3 (1,1%, 2,5% 4,1% ), . 4 , , , 3%. , 2013 11 , 2 2011. 2013 , , (inventory investments), . , 1,2% , +1,5% +1,7% , , . 25 0,1%, 0,4%
7. 14. 14 2013 , 26 , . ( / ObamaCare) , , 2 , , , 4 . , , , , , . , , . , 2014. 26 . sequestration, 2012, . 9 . .
8. 15. 15 2. 2.1 , 2012 (0,1% 4/2012), (1-3), 1,9% 2,2% . ( 1) 2011 2013. 1: , 2011-2013 ( , ) *US Bureau of Economic Analysis (US BEA) 4 : (US Bureau of Economic Analysis/BEA) , (residential fixed investments), . , , / , , 16 (shutdown) . 850 .
9. 16. 16 . US BEA shutdown 0,3 , 2 6,6 . . , (.. ), : , , . Reuters/University of Michigan . 2013 (sequester), 85 . 2013. think tank BPC (Bipartisan Policy Center) sequester 2013 2: (sequester) 2013 *Bipartisan Policy Center
10. 17. 17 27 . , 4 2009-2013 B , 5,7% - (2,7%) . 2013. 3 . 3: (4 . 2013) *Bipartisan Policy Center , , 0,6% , 750 . , (Congressional Budget Office/CBO). , , : , - , . 27 , mandatory spending ( ) (.. , Medicare/Medicaid ...), discretionary spending , Appropriation Bills ( , , , )
11. 18. 18 4, ( 6,2%, ), , (///) 4 , . 4: (2012-2013, ) *US BEA , 5%, (residential fixed investment) 6,6%, (3% 5% 2012) , 2% . , , 4 , / , , 2013. 2013 , .
12. 19. 19 Federal Reserve Bank of New York ( Fed) , 241 . 4 2013, 2008 , 152 ., ( 53 . 18 . ). , momentum 2013, , . 2.2 - 3 , 2,1%, 2013: 1: 2010-2013 ( ) 2010 2% 2011 2,2% 2012 1,9% 2013 2,1% , , 70%, . , () : 2013 - 2% 115 . 0,9% , 2012, , NBER (National Bureau of Economic Research). , 1/1/2013 American Taxpayer Relief Act, , Obama.
13. 20. 20 5 , , 2011 . 5: , 20082013 ( ) *Federal Reserve Bank of St. Louis, Economic Research , , , --, 0,3% , shutdown , 0,6% 0,7% . , , 3 2013, . , 13% 2008 10% 2013, , . , 1,1% 2013, 1,3% 2008.
14. 21. 21 , 2009, , Wilshire 5000 ( ) 31% 201328 , 39% , . , / 11% 2013, () 2011, 13% . , , 52% 2013 , 1,7%, . ( 6) . 28 Wilshire 5000 . 2013 . 2014: , - 9/10/2007 15.806 , 6.858 9/3/2009, $10,9 . . Wilshire 5000 31/12/2013 19.706 ( 2014, , 20.000 ).
15. 22. 22 6: , ( ) *US BEA , , 29 , / , . , 2 Michigan/Thomson Reuters: , , , . , , . 2: ( ) 2013 *University of Michigan/Thomson Reuters 29 Michigan/Thomson Reuters Conference Board/Nielsen
16. 23. 23 Consumer Confidence Index Conference Board, 71,2 (100=1985) 80,2 , shutdown, (72 ) 78,1 . , , , , 2014 . 2.3 , , 8,8 . , 2013 . 0,7% 30 , 2010-2012 (0,9%), 7,4% 5. ( 6) 2009/2010, - (. 3 ). 30
17. 24. 24 7: (2007-2014) ( ) ( ) *US Bureau of Labor Statistics 3: ( 2003-2013) 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 6% 5,5% 5,1% 4,6% 4,6% 5,8% 9,3% 9,6% 8,9% 8,1% 7,4% * US Bureau of Labor Statistics 2,3 . (>190 . ) 2013, 2 . 3 . , 47 , 2010 2014, 8,5 . 8,8 , , . 2013, 90% ( 30% 31 , 15% 9% ), 7% 4% . 31 Professional, Scientific, and Technical Services, Management of Companies and Enterprises Administrative and Support and Waste Management and Remediation Services
18. 25. 25 , 2013 622 . , , - 2 , , . Obama, , , , . , , , . 6 2001-2007, 4% , (>27 ) - , (~2,3% ~1% . . 2001-2007), . 8: ( ) * : 26 ., : 27 . : 2001-2007 ( ) ** US Bureau of Labor Statistics
19. 26. 26 , , . , , , (62,8% 2013 63% 2012), . , ( ) / (job-to-job mobility), : - 2013 9 ., 10 . , (2005-2007). 2.4 2%, 1997-98. , 12 1,5%, 1,7% 2012 3% 2011, 2,4%, ( ) 2013 1,7%, 1,9% 2,2% 2011. 1,1% 12, . 9 2 ( ) .
20. 27. 27 9: (2004/. 2014) *: US Bureau of Labor Statistics, , - , , . Blue Chip Economic Indicators 1,5% 2014, 2%, (Fed) - 2%, . 2.5 2013 : , ,
21. 28. 28 11% 1970 26% 2000, 31% 2012 33,3% 2013, 13,5% . , US Trade Representative ( ), 2013 5.400 , 5.900 . , , , . , . , 2013, (1,1%) 2011/2012 (- -0,4% 2012), 2,7% 2013 2014, 2013 7,7%, 2012 30. , ( ) 2,28 , 64 2012, : 16,6% 2009-2010, 14,5% 2011, 4,4% 2012 2,8% 2013. , 0,09% ( 2,75 ) 2013 3% 2012, . 4 (, ) 2007 2013.
22. 29. 29 4: , (20072013) ( . , ) *: US Bureau of Economic Analysis (US BEA) , 2009, , , 3 , , 2 , 2011. , 2007 2013 38%. , 11% 2013, 2012. -- ( ) 8,9%, - 5,4%. ( 5) ( ) 2007-2013. 5: , (20072013)32 ( . , ) % 2007 -699.065 -- -822.743 123.677 2008 -702.302 -0,46% -833.957 131.655 2009 -383.657 -45,4% -510.550 126.893 2010 -499.379 30,1% -650.156 150.777 2011 -556,838 11,24 -744.139 187.301 2012 -534.656 -4% -741.475 206.819 32 , US BEA
23. 30. 30 2013 -476.393 -10,9% -701.669 225.276 *: US Bureau of Economic Analysis (US BEA), , / , , 2007 2013 ( 10). 10: () (2007/2013) *: US Census Bureau/Foreign Trade Division , , , 15 72,5% 2013, 72% 2012 70,8% 2011. 15 1,13 . 71,4% ( 2012: 68,9%, 2011: 71,7%, 2010: 72,5%) 1,73, 76,2% ( 2012: 74,8%, 2011: 73,9%, 2010: 75%). 6 (10 , 2013), , 1 ( 16,4% 19% ), , 3 (13,2%) 2 ,
24. 31. 31 4 5 . 6 , , : . 2012 2013, , ( 9 10 2013) , 10 2012 8 , . 6 2013, . .
25. 32. 32 6: 10 () 2013 ( . ) * US Census Bureau, (: 2012) 2013 % 2012 % 2011 % (: 2012) 2013 % 2012 % 2011 % (: 2012) 2013 % 2012 % 2011 % 1. 632,4 (616,7) 16,4 16,4 16,1 332,1 (324,2) 14,6 14,3 14,5 300,3 (292,4) 19,0 18,9 19,0 2. 562,4 (536,2) 14,6 14,0 13,6 440,4 (425,6) 19,4 18,7 19,1 122 (110,6) 7,7 7,1 7,0 3. 506,6 (494) 13,2 12,9 12,5 280,5 (277,7) 12,4 12,2 12,0 226,2 (216,3) 14,3 14,0 13,3 4. 203,7 (216,4) 5,3 5,7 5,3 138,5 (146,4) 6,1 6,4 6,3 65,1 (70,0) 4,1 4,5 4,5 5. 162,1 (157,3) 4,2 4,1 4,0 114,6 (108,5) 5,1 4,8 4,3 47,4 (48,8) 3,0 3,2 3,3 6. . 103,8 (101,2) 2,7 2,6 2,7 62,2 (58,9) 2,7 2,6 2,6 41,6 (42,3) 2,6 2,7 2,9 7. . 100 (109,8) 2,6 2,9 3,1 52,6 (54,9) 2,3 2,4 2,3 47,4 (54,8) 3,0 3,5 3,8 8. 77,3 (72,4) 2,0 1,9 2,1 45,3 (41,6) 2,0 1,8 1,8 32 (30,8) 2,0 2,0 1,9 9. 71,7 (75,8) 1,9 2,0 1,9 27,6 (32,1) 1,2 1,4 1,4 44,1 (43,7) 2,8 2,8 2,9 10. . 70,8 (73,8) 1,8 1,9 1,3 51,8 (55,7) 2,3 2,4 2,2 19 (18,1) 1,2% 1,1% 0,9%
26. 33. , Obama, . 11 5 (, , , ), 2009 2013, ( ) . 11: / ( - 2009/2013) *: Council of Economic Advisers of the President : IMF; Eurostat; US BEA; US Census Bureau/Foreign Trade Division
27. 34. 34 3. , 2013 , / 2008-2009. +1,9% , 2,2% , . , . , / , , - Stimulus Bill (American Recovery and Reinvestment Bill/ARRB, 2009) ( , , , , / ) 787 . . ( ) , , , . 2013 , ( ) , , , ...
28. 35. 35 , , , . ,