DECLARATION OF POLICY.

SEC. 101. DECLARATION OF POLICY.The Congress finds that— (1) as the world’s largest economy, the United States has an enormous stake in the future of the global trading system; 106 STAT. 2187 (2) exports are a crucial force driving the United States economy; (3) during 1991, the value of United States exports increased by 7.1 percent from the 1990 level to $421,600,000,000, supporting more than 7,000,000 full-time United States jobs, and affecting the lives of all of the people of the United States; (4) exports also support the global strategic position of the United States; (5) a significant part of a country’s influence is drawn from the reputation of its goods, its industrial connections with other countries, and the capital it has available for investment, and trade finance is a critical component of this equation; (6) the growth in United States exports has increased the demand for financing from the Export-Import Bank of the United States; (7) during 1991, the value of exports assisted by the Export -Import Bank rose 28.7 percent, from $9,700,000,000 to $12,100,000,000, the highest level since 1981; (8) the Export-Import Bank used its entire budget authority provided for 1991, and still could not meet all of the demand for its financing assistance; and (9) accordingly, the charter of the Export-Import Bank, which is scheduled to expire on September 30, 1992, must be renewed in order that the Bank continue to arrange competitive and innovative financing for the foreign sales of United States exporters.