[DannyTN]

"Bottom line: there is no net trade imbalance."

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.

[InterceptPoint]

But we are not exporting our manufacturing capability. It continues to grow at a faster rate than the economy in general. We are about equal to the Chinese (who have 4x our population) and way ahead of whoever is in 3rd place. Plus, as I have noted many times, we are exporting 747s and impotnrting plastic toys and clothing. Big difference.

[khelus]

"Bottom line: there is no net trade imbalance."

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.

I have heard this aptly referred to as 'selling your seed corn'.