4 ms·

You, and most americans, seem to be fixed with deficit in goods, but at the same time do not even mention the massive trade surplus that the US has in services.

You, and most americans, seem to be fixed with deficit in goods, but at the same time do not even mention the massive trade surplus that the US has in services. By some measures, total deficit with the EU for example is fairly balanced. I assume that you are in favour for a rebalancing in services trade too?

mc32 8y ago
If we are trading in services unfairly, sure. But we're likely not. Others will put up many different barriers to impede fair trade. The US does less of that nonsense, on balance.
- gonvaled 8y ago
  What about unfair technological lead due to government support? The internet is a DARPA spinoff. What about unfair IP rules due to overwhelming control of international organizations and standards? What about unfair tax dodging by US multinationals, not paying tax on profits in the corresponding countries by abusing an international tax system made by the US for the US?
  - gwicks56 8y ago
    More to the point, what about the "exorbitant privilege" the USA enjoys from having the worlds reserve currency? If other nations make a concerted effort to ditch this set up, the USA can no longer run massive deficits. Imagine the USA trying to run a balanced budget immediately.
    - mc32 8y ago
      That's over-stated. I don; think the US cares too much about that at all. In fact it encouraged the Euro.
      - gonvaled 8y ago
        That happened in the golden era of multilateralism, after the fall of the Berlin Wall and the Soviet Union. The US realized how unfair the situation was, and took some timid steps to start a rebalancing of the situation, allowing for the creation of a competing currency. It is not that the Euro was not a threat to the dollar, it is simply that the threat was minor then, and that it was plain and simple the right thing to do: renounce to unfair advantages in order to move to a more just world. The US continues to unfairly abuse the dollar as world currency, and dismissing this fact can be a costly misjudgment: fair for the world, but painful for the US.
  - mc32 8y ago
    France had Minitel. They just never did anything with it. The EU also subsidize (even more) then the US does. US corps can't take profits from military ops to subsidize civilian ops. EU also tax dodge[1]. It's not an American thing. Also, The US double taxes its companies. The EU do not. Am Cos pay taxes on worldwide profits. EU cos do not. [1]http://www.dw.com/en/german-companies-avoid-billions-in-taxes/a-16841542 http://www.dw.com/en/german-companies-avoid-billions-in-taxe...
- Bendingo 8y ago
  Yes of course, the US is better than everyone else. Enforced trade, fair trade, it's all the same thing really. [1] https://en.wikipedia.org/wiki/Perry_Expedition https://en.wikipedia.org/wiki/Perry_Expedition [2] https://www.economist.com/special-report/2003/07/10/japanese-spirit-western-things https://www.economist.com/special-report/2003/07/10/japanese...
  - mc32 8y ago
    If you gotta go back two centuries ago to find something major, I think this proves my point. Regardless I was talking about the post war period, when modern international trade began its earnest desire to propagate free trade.

mc32 8y ago

If we are trading in services unfairly, sure. But we're likely not. Others will put up many different barriers to impede fair trade. The US does less of that nonsense, on balance.

gonvaled 8y ago
What about unfair technological lead due to government support? The internet is a DARPA spinoff. What about unfair IP rules due to overwhelming control of international organizations and standards? What about unfair tax dodging by US multinationals, not paying tax on profits in the corresponding countries by abusing an international tax system made by the US for the US?
- gwicks56 8y ago
  More to the point, what about the "exorbitant privilege" the USA enjoys from having the worlds reserve currency? If other nations make a concerted effort to ditch this set up, the USA can no longer run massive deficits. Imagine the USA trying to run a balanced budget immediately.
  - mc32 8y ago
    That's over-stated. I don; think the US cares too much about that at all. In fact it encouraged the Euro.
    - gonvaled 8y ago
      That happened in the golden era of multilateralism, after the fall of the Berlin Wall and the Soviet Union. The US realized how unfair the situation was, and took some timid steps to start a rebalancing of the situation, allowing for the creation of a competing currency. It is not that the Euro was not a threat to the dollar, it is simply that the threat was minor then, and that it was plain and simple the right thing to do: renounce to unfair advantages in order to move to a more just world. The US continues to unfairly abuse the dollar as world currency, and dismissing this fact can be a costly misjudgment: fair for the world, but painful for the US.
- mc32 8y ago
  France had Minitel. They just never did anything with it. The EU also subsidize (even more) then the US does. US corps can't take profits from military ops to subsidize civilian ops. EU also tax dodge[1]. It's not an American thing. Also, The US double taxes its companies. The EU do not. Am Cos pay taxes on worldwide profits. EU cos do not. [1]http://www.dw.com/en/german-companies-avoid-billions-in-taxes/a-16841542 http://www.dw.com/en/german-companies-avoid-billions-in-taxe...
Bendingo 8y ago
Yes of course, the US is better than everyone else. Enforced trade, fair trade, it's all the same thing really. [1] https://en.wikipedia.org/wiki/Perry_Expedition https://en.wikipedia.org/wiki/Perry_Expedition [2] https://www.economist.com/special-report/2003/07/10/japanese-spirit-western-things https://www.economist.com/special-report/2003/07/10/japanese...
- mc32 8y ago
  If you gotta go back two centuries ago to find something major, I think this proves my point. Regardless I was talking about the post war period, when modern international trade began its earnest desire to propagate free trade.