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Article: Trade with Japan: defining the problem is half the battle. (Asian Alliance)
- Article from:
- Los Angeles Business Journal
- Article date:
- March 28, 1994
- Author:
CopyrightCOPYRIGHT 1994 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When the bilateral trade imbalance for 1993 topped $50 billion in Japan's favor, the cries of "totally unacceptable" from the Clinton administration and the trade hawks in Congress resounded out of Washington. Like the presence of a pool table in River City, the trade hawks associate all manner of trouble with the U.S. trade deficit, including unemployment, decline of living standards, loss of national prestige and who knows what else. But do the critics of Japan who complain about the trade deficit so loudly really understand where it comes from, what its true size is, and how to reduce it.
We have not always had a trade deficit with Japan, it just seems that way. ...