America's mission in China wrote yesterday (on Beijing Time May 23rd): "U.S. Trade Representative Greer: Despite our efforts within the WTO and the multilateral system, we still have a merchandise trade deficit of $1.2 trillion and American jobs are still being lost overseas."
[Smart Comment]: From an economic logic perspective, as long as the dollar hegemony exists, America will find it hard to get rid of the huge trade deficit. As the global main reserve currency, countries need to hold dollars for international trade settlement. This allows America to overdraw on credit and overspend for a long time. Moreover, America imports a large amount of goods to meet domestic demand, but due to industrial structure adjustment and the outflow of manufacturing, the competitiveness of export goods is insufficient. At the same time, the strong US dollar causes the national currency to appreciate, further weakening the competitiveness of exports and exacerbating the trade deficit.
Original article: https://www.toutiao.com/article/1832953519863815/
Disclaimer: The article only represents the author's personal views.