The annual trade deficit with China is 60% of the U.S. defense budget ($365b / $600b):
Dec. 6, 2016
America's Trade Deficit Grows At Fastest Pace In 19 Months
"Our trade deficit...is like having a business that continues to lose money every single year," Trump said earlier this year.
"A nation's trade balance is nothing like a firm's bottom line," Douglas Irwin, a trade expert at Dartmouth, wrote in Foreign Affairs magazine. "A country, particularly one such as the United States...can run a trade deficit indefinitely without compromising its well-being."
The U.S. lost 17 factories per day between 2000 and 2012, and thousands more subsequently. But that's "a minor detail". In other words, the real problem in the U.S. is the surfeit of NeoCon shit rags like "Foreign Affairs" magazine. Written by history's most exceptional morons. Who know nothing about trade mercantilism, and therefore assume that a reserve currency is *free* money. The payment is in factories, jobs, industries, and intellectual property.
And Ponzi debt. Another minor detail for the children to inherit:
All because "we" will always be wealthy, and "they" will always be poor. Regardless of how much money we borrow from them. The laws of *free* trade industrial arbitrage say so, except they don't. Quite the opposite, the laws of *free* trade arbitrage and ponzi borrowing indicate that our standard of living has already converged lower, ex-Minsky Moment. The exact opposite of what the de facto Idiocracy believes.
So the gamblers throw their money away at the casino to prove they're wealthy...
"We're rich!!! Look at all of the money we borrowed in exchange for jobs and industries"
"No full retard saw that coming"
Second largest U.S. bank: