more on unbalanced trade

the world economy developed huge potential instabilities—vast trade imbalances-From 2000 to 2008, the U.S. trade deficit with China ballooned from $84 billion to $266 billion

A Global Free-For-All?
URL: http://www.newsweek.com/id/192477
Comments:

Saw documentary on Haiti where imported US grain and rice was 80% cheaper than locally produced preventing
recovery in local economy... Two causes: mechanisation at industrial scale and large subsidies paid to US farmers

As per the imbalance with China, looks like "what goes around comes around"

Posted by LordB on April 14, 2009 at 02:12 AM EDT #

I read something similar about USA sending grain as aid to a poor country in Africa. It drives down the price of grain in neighboring countries.

Posted by Carol McDonald on August 14, 2009 at 11:17 AM EDT #

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