In the Jaws of the Dragon by Eamonn Fingleton
I read the first 1/5? of this book on Sunday while walking Orclette around in circles. It makes me think.
Now I don't care much for Eamonn's very harsh view of the East-Asian countries. He takes the information he has and paints a bleak picture of Asia abusing the US.
I agree that the trade/debt flows are not good. Are very very not good. But my first thought isn't that they are abusing us... its that we're being lazy.
When I, an economic layman, view our nation's economy/trade relationship I'm worried.
#1 We're in debt. Debt is -bad-. Not hmm okay.. but BAD. It is a lazy habit, borrowing is. It shows lack of patience.
#2 We're out of budget. I think. All I hear is that oh this side or that side will fix our budget. Not sure here but yeah. If we are out of budget then we need to stop spending money, or make more somewhere.
#3 We're operating with a trade deficit with other countries. Trade ideally should bet 50/50, sure we might have a 70 in/30 out with one country but we should make it up with others. If we are buying more than we're selling then obviously we're going to run low on money at some point.
Now for #1 and #2 the 'simple' solution is stop spending money, and make more. Obviously this isn't simple as different people have different views on what should be cut and where we should get money from.
My view is we should place trade taxes(these are called tariffs?) on the trade coming from countries where we have a deficit. This would fix the deficit a tiny bit I think.
I'm also in favor of withdrawing from overseas military commitments when possible. These never seem to be worth the cost in money or in lives.(Please note, I fully and entirely believe that our nations troops are doing a good job and deserve our full support. I just don't believe that many of our engagements have been necessary or productive.)
I would like Maglev trains. Electricity isn't very dependant upon gas/oil that I can tell and electric trains are cool.
I would like the US to have a huge per-capita savings rate. Something like 20%. That would be nifty.
I would like to see the US debt free before I die.
I would like to see a 'tax' on Credit cards. Like an extra 1-3% intrest that goes to help pay off the US debt. Yeah that would be nice.
I agree with Rhys. Our gas prices are ridiculusly low compared to the rest of the world. I'm not sure how we pull that off but bleh stop whining about it. Instead whine that you can't think of a many American products that are better than anything any other country makes.
All I can come up with is the iPod, and I would have said Boeing but I believe they have outsourced their latest plane. Maybe personal computers. But those seem to be made entirely with pieces from other countries.
Btw... my facts might be entirely wrong on some or all of this. And I ramble. I just felt the need to express my worries/concerns out here.