Edit post

Edit your reply below.

Post Body
Enter your post below.
[quote user="Miningman"]The play with China is more about all the Chinese official and sanctioned shenanigans going on with theft but more than half a trillion dollars of deficit really cannot continue. [/quote] China is a special case, no question. But the USA has deficits with other countries too. The deficit is not always only the fault of the partners with the export surplus or their tariffs. The USA should ask what they perhaps can change to get more competetive. Last month I found a report about a 3,600 TEU container vessel that cost $209 million built in the USA (Jones Act). The Emma Mearsk with 15,200 TEU cost in 2018 money $175 million built in Denmark (EU). A 21,000 TEU built in South Korea costs $175 million too. And Denmark is not a low wage country. Germany fell to the end of the EU country's economical development, from leader to laggard. It is now the leader again but after painful cuts to wages (pay freeze over a few years) and welfare system. Our unions went along knowing there was no other way to get down the unemployment rate of 11.7% (5 million people) and rising wages again. If productivity and wages don't fit anymore companies look for ways to reduce labor expenses like GE going to Fort Worth and EMD to Muncie. On the other hand you need products other countries want to buy. Your own market is so large, companies think of it first not the export. In Germany we have to keep export in mind. Automobiles are a good example. Even lowering the EU tariff to zero wouldn't help the American car builders much. They have only very few fitting models for the European market. Pointing at others means three fingers point back at me. Regards, Volker
Tags (Optional)
Tags are keywords that get attached to your post. They are used to categorize your submission and make it easier to search for. To add tags to your post type a tag into the box below and click the "Add Tag" button.
Add Tag