If some idiot journalist mentions trade deficits without mentioning capital and current accounts I'm going to throw my keyboard in the lake. luckily there is no lake nearby. That "jobs before journalism" thread really confirmed what I always thought. J-schoolers know nothing!
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The Econ 101 model ignores economies of scale, and ignores supply chains—China has shifted supply chains to their country, and it’s going to be hard to shift them back. Doable, though!
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One thing becomes clearer by the day. America’s a country run by people talking on TV; China’s a country run by guys slaving over spreadsheets. Long term, it shows.
End of conversation
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