Well do you expect the US to keep running trade deficits of 2.8% of GDP every year?
2.8% trade deficit isn't very high compared to other countries (Canada, NZ, and the UK are higher). More to the point, a world busy doing trade with each other is a much more peaceful one than ones with an isolationist USA and China without less to lose economically if they decide go to war over Taiwan.
But the deficits will stop, it's only a question of how much longer we keep delaying it.
Historically that isn't true at all: economies aren't closed systems where imports and exports have to be eventually balanced. The only reason the deficits stop is if the country goes bankrupt and can't afford to import anything anymore. Trump's experience in going bankrupt not withstanding, I don't think anyone wants to go there.
2.8% trade deficit isn't very high compared to other countries
You are joking, right? You can find some years where the US trade deficit isn't the absolute highest as a percentage of GDP, particularly if you start throwing in small island economies like New Zealand into the mix, but you will not find any other nation whose balance of current accounts is anywhere as close to the size of the U.S.'s in terms of GDP share.
Morever the sustainability arguments have nothing to do with whether you like globalism or not. I may like housing, but that doesn't mean I can keep going into debt buying more and more houses on the same income.
Historically that isn't true at all: economies aren't closed systems where imports
This is a complete non-sequitur. You need to logically connect this statement to the argument I am making rather than just changing the subject to something irrelevant. Please read and understand and then respond to the arguments made, rather than responding to just how those arguments make you feel and what they remind you of.
You are joking, right? You can find some years where the US trade deficit isn't the absolute highest as a percentage of GDP, particularly if you start throwing in small island economies like New Zealand into the mix, but you will not find any other nation whose balance of current accounts is anywhere as close to the size of the U.S.'s in terms of GDP share.
The USA isn't even that high...middle of the pack. Yes, the USA has the highest GDP of any other nation on earth, but Canada is no slouch either, it almost has an economy as large as California.
You need to logically connect this statement to the argument I am making rather than just changing the subject to something irrelevant.
You stated that the USA cannot run a trade deficit forever, which I guess is because you assumed the economy must be a closed system that would simply deplete itself eventually. That isn't true. I'm not seeing a very well formed argument to understand here, just more of the same isolationism movement we've been hearing about since the 1930s.
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2.8% trade deficit isn't very high compared to other countries (Canada, NZ, and the UK are higher). More to the point, a world busy doing trade with each other is a much more peaceful one than ones with an isolationist USA and China without less to lose economically if they decide go to war over Taiwan.
Historically that isn't true at all: economies aren't closed systems where imports and exports have to be eventually balanced. The only reason the deficits stop is if the country goes bankrupt and can't afford to import anything anymore. Trump's experience in going bankrupt not withstanding, I don't think anyone wants to go there.
You are joking, right? You can find some years where the US trade deficit isn't the absolute highest as a percentage of GDP, particularly if you start throwing in small island economies like New Zealand into the mix, but you will not find any other nation whose balance of current accounts is anywhere as close to the size of the U.S.'s in terms of GDP share.
Morever the sustainability arguments have nothing to do with whether you like globalism or not. I may like housing, but that doesn't mean I can keep going into debt buying more and more houses on the same income.
This is a complete non-sequitur. You need to logically connect this statement to the argument I am making rather than just changing the subject to something irrelevant. Please read and understand and then respond to the arguments made, rather than responding to just how those arguments make you feel and what they remind you of.
The USA isn't even that high...middle of the pack. Yes, the USA has the highest GDP of any other nation on earth, but Canada is no slouch either, it almost has an economy as large as California.
You stated that the USA cannot run a trade deficit forever, which I guess is because you assumed the economy must be a closed system that would simply deplete itself eventually. That isn't true. I'm not seeing a very well formed argument to understand here, just more of the same isolationism movement we've been hearing about since the 1930s.