U.S. deficit in foreign trade should be studied from the perspectives of its economic structure, the profound changes that take place in America’s role in the international division of labor, the internationalization of American economy, and the globalization of the world economy. The positive role trade deficit plays in American economy is often neglected. Thanks to the relative stability of American share in the world commodity trade, its continued edge in attracting foreign capital, its growing strength in international competition and its competitive edge in high technology trade, the U.S. will have a bright prospect for exports and continue to maintain its status as the world’s No. 1 trading power.
