Yeah there’s obviously a valid point about this. But it’s known since the 80s, I mean I’m from Germany and I read about it a bazillion times. To my knowledge the counter-argument is that financial flows are organized differently, more precisely orchestrated from the US through their behemoth stock exchanges
Still I’m confused about why a problem that’s known since almost half a century is suddenly getting this attention
Commercial_Rule_7823 on
If you dont think we should have a trade deficit with a lot of countries like Vietnam, Cambodia, etc…. then why bother trading with them at all?
We trade away jobs we would struggle to fill and wages we want to pay so we can have cheaper goods.
Then expect them to buy what? Ford explorers and raptors? Tesla dumpsters? Texas beef?
Unless were gonna stop and give up our cheap shoes…then its always going to be a trade imbalance with poor countries.
Focus on what were good at, services, software, financial, consulting, business management and fill the gaps through services. We dont need factories making shoes in phoenix.
scrotalsmoothie on
Let’s be honest, the numbers don’t account for the hoards of people who do not understand what a trade deficit is. The fact Trump is sitting in office a second term speaks to this.
Livinincrazytown on
We are a service economy first and foremost, why are people so fixated on trade deficit.
Second, if we want USD to remain the global reserve currency and be able to benefit from all that entails, other countries need our currency. If we constantly run a trade surplus wouldn’t the global supply of dollars eventually run low?
Seems to me the benefits far exceed the trade deficit negatives
Objective-Bear-423 on
He likes to give contracts to the absolute lowest bidder. My friend who worked there said he can’t stand how incompetent some of the staff from the offshore teams are. We’re talking guys who don’t understand basic concepts like local accounts vs domain accounts.. he got laid off last year but fortunately landed on his feet elsewhere.
MCP-King on
I pretty sure a lot of Americans don’t know what the word ‘deficit’ means, and even more don’t understand what a trade `deficit` is. Education in the US is one of the largest issues they have.
Yeeeoow on
I have a trade deficit with my local grocery store.
I could take a day off work and plant a whole heap of vegetables in my backyard.
But I earn more at work on that day than I’d save planting them myself. And I don’t like gardening.
That’s the economics of comparative advantage, with focus on Labor cost, explained to you.
Trump is trying to fight China on the future of low-value manufacturing. Who gives a fuck about that.
Focus on rare earth refining and semi conductor manufacturing, which china is currently dominating in and he doesn’t give a fuck about.
7 Comments
Yeah there’s obviously a valid point about this. But it’s known since the 80s, I mean I’m from Germany and I read about it a bazillion times. To my knowledge the counter-argument is that financial flows are organized differently, more precisely orchestrated from the US through their behemoth stock exchanges
Still I’m confused about why a problem that’s known since almost half a century is suddenly getting this attention
If you dont think we should have a trade deficit with a lot of countries like Vietnam, Cambodia, etc…. then why bother trading with them at all?
We trade away jobs we would struggle to fill and wages we want to pay so we can have cheaper goods.
Then expect them to buy what? Ford explorers and raptors? Tesla dumpsters? Texas beef?
Unless were gonna stop and give up our cheap shoes…then its always going to be a trade imbalance with poor countries.
Focus on what were good at, services, software, financial, consulting, business management and fill the gaps through services. We dont need factories making shoes in phoenix.
Let’s be honest, the numbers don’t account for the hoards of people who do not understand what a trade deficit is. The fact Trump is sitting in office a second term speaks to this.
We are a service economy first and foremost, why are people so fixated on trade deficit.
Second, if we want USD to remain the global reserve currency and be able to benefit from all that entails, other countries need our currency. If we constantly run a trade surplus wouldn’t the global supply of dollars eventually run low?
Seems to me the benefits far exceed the trade deficit negatives
He likes to give contracts to the absolute lowest bidder. My friend who worked there said he can’t stand how incompetent some of the staff from the offshore teams are. We’re talking guys who don’t understand basic concepts like local accounts vs domain accounts.. he got laid off last year but fortunately landed on his feet elsewhere.
I pretty sure a lot of Americans don’t know what the word ‘deficit’ means, and even more don’t understand what a trade `deficit` is. Education in the US is one of the largest issues they have.
I have a trade deficit with my local grocery store.
I could take a day off work and plant a whole heap of vegetables in my backyard.
But I earn more at work on that day than I’d save planting them myself. And I don’t like gardening.
That’s the economics of comparative advantage, with focus on Labor cost, explained to you.
Trump is trying to fight China on the future of low-value manufacturing. Who gives a fuck about that.
Focus on rare earth refining and semi conductor manufacturing, which china is currently dominating in and he doesn’t give a fuck about.