Anonymous
Anonymous asked in Politics & GovernmentPolitics · 3 years ago

If America is getting the worst end of each deal with every one of our allies then why do we have the greatest economy and the most wealth?

10 Answers

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  • ?
    Lv 7
    3 years ago

    You do not

  • ricky
    Lv 7
    3 years ago

    We do inspite of what you said. Doesn’t make it right to continue

  • Anonymous
    3 years ago

    Yeah...the most poverty too. The only Western country that has people living on 2 dollars a day

  • 3 years ago

    Yeah. Isn't that interesting. If we're screwed so much in international trade, how come we're the number one economy in the world by a big margin. We must be doing something right don't you suppose?

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  • y
    Lv 7
    3 years ago

    Becouse at one time, we were that much ahead of the rest of the world, that is what most that grew up under Obama's reign don't seem to get. At one time the hits from these deals were no big deal, we could absorb them becouse we were that much better, greater, ahead, whatever word you choose to use. Globalization is what has changed that, closed the gap. Globalization and China becoming the worlds manufacturing plant. As hope and changed turned us from industrialization and manufacture, to service and tech. Our economy slowed down to match. Service economies are greener, they use less resources, but they are hell of lot poorer.

  • 3 years ago

    Trump is an moron on trade. The idea that trade is a zero sum game and that the trade balance is effectively a scoreboard to who is winning is an idea that was disproved more than 200 years ago by Adam Smith. Trump's trade views are effectively the same as the Mercantilists.

    The US has been a VERY free trading nation throughout it's history. It only went through one period where it wasn't, and that's when the Smoot-Hawley tariffs were passed and shortly thereafter the US went into the Great Depression. After WW2, trade re-opened under GATT and the economy boomed. I'm not saying that trade ALONE was responsible for either of those, but it was a big factor.

    Even the Democrats generally get that trade is good. They SAY they are opposed because their union masters require it, but when Democrats are in the White House they magically transform into free traders. The Democrats are the ones that gave the Presidency so much power on trade specifically because it freed them up at the congressional level to SAY isolationist things, and act upset when the President DID free trade things.

    Trump is the first true believer in isolationism that we've had since FDR. Someone needs to sit this guy down and teach him the history and the economics. Because the only way tarriffs make America great is by harkening back to the Great Depression.

  • 3 years ago

    Most wealth? We're 20 Trillion in DEBT.

    If anyone actually understood that number............you'd be pulling an Anthony Bourdain.

  • Because we're not. A trade deficit does not mean we're "losing on trade". A trade deficit simply means we import more than we export. How is that a problem? It's not. It's a privilege. It's a privilege of the US's massive economy. We can import nice things from around the globe because we can afford it. We aren't desperate for money, we generate enough wealth in the US that we do not need massive trade surpluses to finance our economy. Our economy is good enough to stand on its own. So we can import a lot and export little and be fine.

  • 3 years ago

    The American System and Franklin D. Roosevelt did a great job in the 19th and 20th Century. The trade deficits started occurring around 1980 as America adopted neoliberalism.

  • 3 years ago

    yes

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