Chapter

Consequences of Balanced Trade between the United States and its Pacific Rim Trading Partners<sup>1</sup>

Richard L. Drobnick and Selwyn Enzer

in Trade Policy and Corporate Business Decisions

Published in print April 1990 | ISBN: 9780195055382
Published online October 2011 | e-ISBN: 9780199855056 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195055382.003.0002
Consequences of Balanced Trade between the United States and its Pacific Rim Trading Partners1

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This chapter demonstrates how policy goals at the aggregate macro policy level are translated to trade flows (exports and imports) and at the analytical level. The different patterns of trade policy—which will bring balanced trade with the Pacific Rim—will also create international trade risk. The key question in international economics today is how the United States and the world will adjust to the inevitable reversal of America's mammoth trade deficit. That is how the “overconsuming” United States and its “underconsuming” trade partners will rapidly transform their economies so as to convert America's recent trade.

Keywords: Pacific Rim; trade deficit; overconsumption; underconsumption

Chapter.  7257 words.  Illustrated.

Subjects: Economic Systems

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