Untangling the trade deficit.

America's illiteracy on the subject of the trade deficit could become very important. It is commonly thought that America's trade deficit is the result of underhandedness and unfair practices by other countries, or because domestic companies cannot compete in the global market. The trade deficit i...

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Bibliographic Details
Published in:Public Interest no. 134; pp. 82 - 105
Main Author: Taylor, Timothy
Format: Article
Published: Public Interest Winter 1999
Subjects:
Online Access:View this record in EBSCOhost
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        Balance of trade
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          United States
          Balance of trade
      ab: America's illiteracy on the subject of the trade deficit could become very important. It is commonly thought that America's trade deficit is the result of underhandedness and unfair practices by other countries, or because domestic companies cannot compete in the global market. The trade deficit in America has risen from $56 billion in 1992 to $155 billion in 1997, and this is adding fuel to the anti-free-trade forces. Their attempt to reduce global trade, however, is impractical and unproductive. The writer dispels some myths about the trade deficit, explains its true meaning, and offers a solution to the current upward trend.
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