When you say this, you mean the trade war that Trump started?
And trade deficits aren’t inherently good or bad. To say trade surplus is good, and trade deficit is bad, is to believe trade is a zero-sum game with winners and losers. Trade between countries is mutually beneficial.
For example:
Country A produces good X.
Country B produces good Y.
The countries begin to trade their goods. Country A loves Y, and imports $1000 worth of Y. Country B doesn’t need as much of good X, and only imports $500 worth.
Country A has a trade deficit of $500, and B a surplus of $500.
Which country is winning and which is losing, is Country A’s deficit bad? Or are they both benefiting from their trade?
The trade deficit the US has is inevitable. Americans love cheap goods.
We’re the richest ■■■■■■■ country in history. We have more than enough money to build all the shiny infrastructure you could want but every time Republicans take power they give massive tax cuts to rich people and then say we’re broke and can’t afford anything so we’d better cut Medicare and Social Security. Our overall trade deficit is ■■■■■■■ miniscule compared to what we choose to do with the money that is actually here in our country already.
So you want the government to raise taxes and start spending gobs of money on infrastructure and development? Corporations and rich people already have ■■■■ tons of money but you can only build so many mansions and gleaming corporate headquarters for a handful of superrich firms.
Hong Kong, so it don’t count. It was still British then.
I know its not great all over. But where it is, that was American $$$ that built them, thanks to the ballooning surplus of $$$ they accumulate every year. I hear its the highest ever, now.
