Notable quote:
“Some lament America’s trade deficits, but they’re only part of the country’s international balance sheet. In 2011, our red ink in goods totaled $738.4 billion, offset by a services surplus of $178.5 billion and foreign-investment inflows of $559.8 billion. As a matter of strict accounting, all countries’ international transactions balance — so nobody is taking advantage of anyone else.”
++++++++
This is a point that is, unfortunately, not widely recognized, even here on FR. The trade imbalance is, in fact, brought into balance by foreign investment in the US. Some of that investment flows to the stock, bond and real estate markets while I suspect a significant portion of it goes to the purchase of U. S. Government securities.
Bottom line: there is no net trade imbalance.
It is long past equality time, regarding jobs.
Bring Jobs Back!
That's an overly simplistic way of looking at it. It ignores that if you are importing goods, and exporting your manufacturing capability, that you are liquidating your means of production. And that is "balanced trade" recipe for bankruptcy.