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Authors

Lan CaoFollow

Abstract

The purpose of this Article is to provide a micro evaluation of trade in two particularly thorny areas: (1) job loss; and (2) import vs. export and the trade deficit in a trading system of globally fragmented production. This Article also provides a broad, macro view of trade and its relationship with other parts of the international order—security and finance. This is because trade is a vital component of an integrated international system. Looking at trade in isolation will result in even more incoherence and disequilibrium, perhaps creating unintended consequences in ways that impact negatively on U.S. security and finances. Trade is embedded in an international order—it is linked to national security and to international finance and relatedly, to the dollar’s unique status as a global reserve currency.

The U.S. is not losing in trade. The nature of trade has changed, but the trading system is not rigged against the U.S. Indeed, rather than indict the trading system and malign countries that constitute the global poor, U.S. nationalists should instead see trade as beneficial to the U.S. and necessary to the continued health of the postwar international system.

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