U.S. trade gap reveals chronic ills

[leftchick]

http://www.iht.com/articles/509798.html

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Economists say growing deficit is slowing creation of jobs

WASHINGTON The record U.S. trade deficit in January resulted from temporary factors like rising oil prices but also pointed to more enduring trade problems, analysts said.
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The figures released Wednesday by the U.S. Commerce Department showed that the flood of products from China, which had a trade surplus with the United States of $124 billion last year, climbed by $1.6 billion in January compared with January 2003.
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Analysts said the trade report also revealed more about the economic weakness in Europe than about the inability of American companies to compete. Imports and exports declined in January, but exports fell more, leading to a 0.9 percent increase in the overall trade deficit, to $43.1 billion in January from $42.7 billion in December.
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U.S. exports to Europe stagnated for the third month in a row, even though the value of the dollar plunged against that of the euro last year. A weak dollar should bolster U.S. exports because it makes U.S. products cheaper abroad.
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Lots more.....

[ramapo]

1. It's taken a lot of work to get to this point

There is a 25+-year history of awful policy that has turned our economic fortunes upside down.

The cost is only now becoming evident. The fixes will be painful and are difficult to imagine.