Quotation of the Day…

by Don Boudreaux on June 25, 2019

in Balance of Payments, Myths and Fallacies, Trade

… is from Dan Ikenson’s October 17, 2018, Forbes.com op-ed titled “The Economic Bedrock of Foreign Direct Investment“:

The fact is, however, that the trade deficit has nothing to do with unfair trade and everything to do with the world’s confidence in the U.S. economy. If anything, annual trade deficits mean the United States is winning hundreds of billions of dollars in net inflows of foreign investment every year. Inward investment – rather than export growth – is the real prize of international competition and it tends to reward good policies.


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