Trade “deficits” (which is a stupid term by the way) exist because we have more money to buy their stuff then they have money to buy our stuff.
China and Mexico make a bunch of consumer garbage. Let them be the factories of the world
Meanwhile we create high end software and capitol goods. Not exactly cheap stuff to buy.
Until the rest of the world has the money to buy our capitol goods, we will have “Trade deficits”
China and Mexico make consumer garbage? Like virtually everything we use? China can put a man into orbit and we can’t. And the high end capital (not capitol) goods are being made over there too, for exactly the same reasons. Does it matter whether Boeing makes it’s planes the USA or in China and India? Does it matter if US corporations (or trans-national corporations as they prefer to be called) follow their factories overseas? Not to the globalists. After all, nations are just an obsolete idea. Hail the global oligarchy!