Making Free Trade Work for Everyone -- Rich and Poor, Surplus and Deficit Countries-- New Rules for World Trade
I wrote this essay around the time of the 2004 election. I attended a NABE meeting in Washington and sat in the back of the room. The keynote address was by Greg Mankiw and I asked a question about the US deficit on our trade account that had reached $500 billion dollars. I'd been writing about why this was dangerous for several years without much influence. His response didn't surprise me. At the time John Edwards was the only "populist" in the race to replace George Bush. Donald Trump's complaint is a familiar one, but since that ill fated year the trade deficit increased reaching an apex of over $800 billion. It should remain in the $ 700 billion range for the foreseeable fucture, but without some dramatic and very dangerous interventions, we will have to remain the global engine of growth.
Dr. David L Blond is a well known economists with experience in government and the private sector. Recently published his first novel, The Phoenix Year, an economic thriller about the events leading up to the global market collapse engineered in October, 2016.