A persistent and growing trade imbalance, are a consequence of America’s economic problems, industrial hollowing-out, and debt/financialization - not a cause
The root cause is America’s printed, fiat currency, issued by a central political/government authority.
its been known for 1000 years that government debasement of currency and its effects on money supply benefit the government and those closest to money creation (ie. cronies and the rich) - at the expensive of society and lower classes.
“The root cause is America’s printed, fiat currency, issued by a central political/government authority.”
We have had a purely fiat currency since Nixon closed the gold window in 1971.
If your “root theory” idea was correct there would have been no Reagan prosperity followed by its echo lasting into the 1990s.