right, excellent point. i have thought long and hard about it and determined that the proper balance point is to allow virtually unchecked free trade, with only the slightest bit of oversight. this is the proper balance. and balance is everything.
Unchecked trade with more advanced countries like in Europe, Canada, etc. is fine b/c they have basic standards and regulations with oversight. Trade with developing countries needs careful monitoring until they are past the developing stage. Full Story
yes, certainly from the standpoint of health and safety there needs to be oversight, but not in terms of protectionism and tarriffs and such. trade deficits are not something we need to be concerned with. also we do not need to concern ourselves with worries about sweatshops and labor practices or fair wages in other countries. the best thing we can do for them is buy the products they make in sweat shops, to advance their economy past the point where they need sweatshops and child labor.
Trade deficits are a concern but should not be managed through trade regulation. All that does is create inefficiencies and negative reactions from trade partners. Trade deficits should be addressed by stimulating/investing in industry that has the potential to be profitable in foreign countries.
because in our case a trade deficit means we are buying lots of stuff, which is good, because it means we are rich. a healthy economy buys lots of stuff. and the more stuff we buy the better, because it helps the world, which helps us.
