For years we have listened to the claims that the planet is shrinking and the world is getting smaller due to technology and travel. Until recently, however, we have not really felt the effects or the costs of this global change.

The fact is the world is shrinking and, yes, technology and travel are contributing to this. But, more importantly, this “shrinkage” is caused by demographic shifts around the world, primarily in India and China.

These two countries now have the largest populations in the world as well as the fastest growing economies. Because of this they are the two largest competitors to U.S. manufacturing — and potentially the biggest opportunity. First let’s discuss the downside.

China’s population stands at approximately 1.3 billion and India’s is at 1.5 billion. Together these two countries have 37% of the world’s population. Compound this enormous work force with the fact that the average income in China is $3,000 and under $1,000 for India. You can see that they have an obvious competitive advantage when it comes to labor costs. They have extremely low labor rates and no shortage of workers.

In addition to this, a large segment of the Indian population offers an educated labor base with a strong tilt towards the sciences and engineering. In China, the government is controlling the Yuan, keeping it artificially low in an effort to stay competitive. This makes Chinese-made products artificially low-priced. These issues and others make manufacturing overseas an enormous cost advantage and an obvious problem for U.S. manufacturers, workers and reps.

Some other statistics, however, point toward these countries and the shrinking world as a potential advantage for American companies. China and India are both on an 8% GDP growth rate. These are two of the fastest growing economies on the planet. The people are moving towards a middle class life and are anxious for products that are “western” or American. Both countries’ people aspire to own U.S. goods and to live like us.

In addition to these two countries, opportunities abound throughout Europe, Australia, Asia and Canada. For example, moving a retail product into Canada typically offers a 10% sales boost over numbers for the entire U.S. market — a noticeable increase by any standards.

Everyone is dealing with shrinking U.S. markets, lower volume, increased competition and the pressure to squeeze rep commissions or, in some cases, cut the reps all together. If you cannot increase volume in the territory in which you are working, why not try to expand the territory?

Explore international opportunities with your manufacturer, taking a serious look at foreign markets and the advantages they offer.

Each country has their own set of standards and requirements. Some of these are testing-based, while others may be nothing more than packaging requirements. Research the restrictions and requirements necessary to enter these markets, and help work through the compliance issues.

Working with your manufacturer in a collaborative fashion will not only expand your possible territory, but it will once again demonstrate to your manufacturer the importance of good representation — and the value that you bring to their business.

There are numerous resources available to you to accomplish this. Start with the federal government, which has several trade assistance programs in place. Every state also has a trade program, as well as many counties and even some large cities.

Reach out to SCORE and the Chamber of Commerce for more resources. You should also be using political contacts. These days, every politician is focused on job creation. Contact your congressperson and senators for help. They have staff people who will work with you on foreign trade issues.

At the same time, start to build relationships and alliances with rep firms in these other countries. Decide if these are accounts you can handle directly or if you should partner with someone in-country to assist you.

Besides for the obvious benefit of increasing sales for you and your clients, there is another major, albeit altruistic, bonus to doing this. Currently, the U.S. is running a trade deficit. In the past, this deficit was around 6%, but it has dropped to around 3%. This drop has been due to the economic slowdown and the falling dollar.

This trade deficit is a major problem confronting our nation. The famed investor Warren Buffett describes it best: “America is like a family farm that has stopped planting all of the land. Each year we do not grow enough crops to pay the bills, so we sell off a piece of the farm. Eventually we will run out of farm.”

In other words, trade deficits require that we send our dollars to foreign countries and then pay interest to borrow them back, or we sell them property or businesses here in the U.S. This is not the place that America should want to find herself.

Every time we export our products to other countries, we secure the financial future of our nation, create American jobs and help shore up our ailing economy. Helping to sell American products out of the country is a real opportunity to do well and good.