We should be very concerned. Our suicidal trade policies created the Chinese monster. It will do no good to be able to pulverize them militarily if they can do the same to us, which will soon be the case. The enormous trade deficit means that they are also increasingly able to buy up our assets. They’ve already bought favorable treatment by many of our venal politicians, not just corrupt Demonrats like the Clintons but “free trade” fools among Republicans.
Great points, all. Our trade policies are stupid....not only they are bad economically, they are bad for national security.
Also, we have spent billions (maybe trillions) of dollars over the years trying to subsidize bad trade deals and the effects of free trade. Of course, the “economic experts” never bring up the non-free market aspect of spending tax dollars on “Free” trade....whether subsidizing multinational companies or bailing out domestic industries
Our trade deficit is like that of the Third World countries....the free traders say “trade deficits arent bad”. If thats the case, then Ethiopia should be an economic superpower
I think in the next decade or two, you will see the end of free trade as we know it. The signs are already there....the refusal of South American countries to join MERCORSUR, and, other nations subsidizing their national industries. The US is spending and free trading itself to Third World status
Ethiopia has a trade surplus. Poof! goes your argument.