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ECOCB535_Comp3_Mod6_Reflection.doc Comp 3/Module 6 - Reflection University of Phoenix

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ECOCB535_Comp3_Mod6_Reflection.doc Comp 3/Module 6 - Reflection University of Phoenix ECOCB/535: The Digital Economy Comp 3/Module 6 “ Reflection The United States continues to have a large t... rade deficit with most of its largest trade partners. There is much dispute regarding the perception, necessity and even validity of the trade deficit. This is especially true when considering the United States largest and most contentious trade partner, China. Many of the views and opinions regarding the deficit have a partisan bias aimed at current and former presidential administrations (Mantzopoulos & Shen, 2019). Some economists believe the trade deficit is not as detrimental as the current administration has communicated citing the potential damage to foreign relations and GDP. Others believe the enforcement of tariffs and tough trade agreements is necessary to protect American jobs and domestic production. These economists also point to the actions of foreign countries such as China that are perceived as manipulative and unfair (Mantzopoulos & Shen, 2019). Deficit as a Necessity Dave (2019) argues that the current policies regarding large trade deficits with large trading partners are not effective in reducing the deficit and potentially have larger implications affecting domestic labor and production. He suggests there exist underlying factors fueling current policies including fear of foreign advanced technology growth. From this viewpoint, a sizable trade deficit is not only acceptable but also unavoid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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