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162 points TaurenHunter | 1 comments | | HN request time: 0.229s | source
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kymki ◴[] No.43580240[source]
As a European this whole debate i sickening.

Trade deficit is a blunt and ineffective way to model international trade on this level, but it is easy to point at and say "look at this large bad number!" which is exactly what is going on. People are primed to interact with that through social media, etc.

The American trend currently is that any trade deficit is bad. It simply isnt. It is idiotic to state so.

The whole point of unequal import and export is that every single country should not strive for importing as much as it exports across all sectors. It is extremely inefficient for every country to specialize in everything equally. What then is the point of international trade? I produce steel, you produce tractors, your neighbor produces wheat. We have mutual dependence across our specializations in the market.

What is missing from the debate is that import/export equilibrium should be achieved on a global level, not on a national level. This is taking something that is a healthy driver for international trade and framing it as if trade partners are forcing others to sell out cheaply.

They aren't. They have found their niche. Find yours or step back.

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1. wiz21c ◴[] No.43580446[source]
> It is extremely inefficient for every country to specialize in everything equally.

Except when you have to produce gazillions of CO2 to move things around or when the "efficient" countries are those who don't look at the health of their workforce...