Oil, Not China, Is The Real Destroyer Of America’s Trade Balance
Thus the U.S. could use a little less finger-pointing at China… and a lot less foreign oil usage… if it really wants to correct its global trade imbalance.
This is a huge argument against U.S. trade protectionism since protectionism would miss the largest cause of America’s trade deficit while only hurting U.S. export prospects by pissing off trade partners.
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