Friday, April 10, 2009

US and free trade

US is mother of all trading nations because of its innovation it has always worked to cut the trade barriers and worry about the balance of trade issues on a later stage.
In recent years balance of trade had been against United States Of America and in favour of our trading partners .,specially China and Japan. China with its surplus of trade with united states has undercut us by becoming number one trading partner of many large economies of Asia including South Korea as well as India. For political as well as economical reasons it is important for united states to remain number one trading partner of most of the larger economies of the world.
Best way to increase trade is to identify what these countries import and what we are good at exporting. As a national policy we need to engage with these countries to purchase their exports at competitive rates and supply incentives including infrastructure to import from United States . Once identified we can really make difference and improve bilateral trade with all these countries.We can also implement a policy which encourages most of our trading partners to keep our trades in balance .It is more sustainable system for the interconnected world.

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