How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier.
Topics covered include:
- Two ways countries can increase their competitiveness
- How savings always equals investment
- Why excess savings flows to the U.S. leading to a drop in U.S. domestic savings
- Why the U.S. current trade situation could lead to a debt crisis
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Show Notes
Why U.S. Debt Must Continue to Rise by Michael Pettis—Carnegie Endowment
A User’s Guide to Restructuring the Global Trading System by Stephen Miran—Hudson Bay Capital
Is Peter Navarro Wrong on Trade? by Michael Pettis—Carnegie Endowment
Related Episodes
515: Tariffs and the Mar-a-Lago Accord: What Trump Really Wants
470: How the Economy Really Works: Savings, Investing, Consuming and Market Distortions
144: Trade Deficits Aren’t Always Bad. Trade Wars Are.
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