At one point about six years ago, I read an article that mentioned that the United States was the only nation running trade deficits with China. What a hoot. If it was such a great idea, you’d think at least one other nation would have been running them.
It was also rather stranget to see the United States warn off European nations from running large trade numbers with China a few years back. Hell, we sell our soul to China, but don’t suggest anyone else do it. Why the hell not?
I’m too lazy to re-read this PDF but I believe the EU is running China trade deficits but is making it up in other ways. The EU is exporting plenty to Russia which is a major energy supplier.
Energy imports are ruling our trade deficit these days. Not the Chinese crap we buy
Anyone who is isn’t watching and ruing our trade deficits is simply asleep at the wheel. But you know what a major prop to our dollar is? Our military. One thing it does is protect Japan and Korea. They understand that they must hold US dollars to repay this favor. They will not be dumping dollars. Add Taiwan to this list
All three Asian nations of course have enviable trade surpluses. So does Russia,. Canada and Australia are in trade balance mostly due to energy and commodities exports