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A number of disruptive forces are at work that may have profound effects on international trade.
One of them is referred to as the industrial internet. This is brought about by advances in sensor technology. These little devices, much cheaper than before, are added to all kinds of industrial products to help them operate more efficiently. Thus, before a product, such as a jet engine, breaks, with potentially devastating effects, airlines can make the fix and plan around any potential service disruptions by having a backup ready.
Sensors can gather all kinds of useful data, which when coupled with powerful computer software, make possible new and efficient products and related services, and faster business and economic growth.
The second trend is advanced manufacturing. Perhaps the best known example is 3-D printing, where sophisticated machine parts and even entire products can be designed, prototyped and eventually manufactured by the printer located anywhere in the world.
Micro factories can pop up for much less capital investment than traditional ones, and more SMEs will be involved in denser, more extensive supply chains. If there's a disruption, such as an earthquake in Japan, which actually happened, companies can rely on micro factories and software to recalibrate supply chains to by-pass bottlenecks. Of course the more complex the chain, the more dependent we are on technology. The people managing it all will be challenged to do so. More sensors and software needed.
The printers can be highly efficient and reprogrammable to make one batch of one kind of industrial part before rapidly switching to another one. In this way, scale can be achieved with relatively small number of lots, with speed and flexibility that will amaze.
Global Brain Power
The last disruptive trend is the global brain. Companies large and small can use social media to collaborate to solve problems. We're likely to see more if this in the future, including crowd sourcing solutions. GE tried it and was pleasant surprised by the results. GE engineers were trying to find a way to create a durable yet lightweight wing mount for its jet engine. Cash was offered, plus a chance for more work. The winner was a young scientist from Indonesia, who had no previous experience working in aviation. The GE engineers at first scoffed at the person's solutions, then were stunned when they discovered they worked.
All if this sounds good, but if these trends and new devices are so amazing, why aren't they reflected in increased productivity and GDP in countries that are best at it? One reason is that our models for capturing this value are out of sync with reality. They are having an effect. We are not now able to measure it properly. What can be said at this point is that the U.S. is well-placed to take excel in the more integrated and internationalized world that’s closer to become reality than most of us imagine. Our companies, the biggest tech savvy ones anyway, are leading in many of the areas mentioned.
These trends also raise a raft of policy issues and questions. How to fashion trade policy to ensure that investment can get to where it's needed? What kinds of jobs will be lost and created? How do we ensure that our educational systems produce workers who can function in this new world? What about data flows and IP protections? As big data expands and ever smarter machines talk with each other, will mere folks like us be part of the conversation?
Unfortunately, the 3-D printer will not be able to help us with that.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| CRV30LL/3AS NTN | 19.05 | 47.625 | 26.9 |
| CRV28LL/3AS NTN | 19.05 | 44.45 | 26.9 |