- WND - http://www.wnd.com -

Trade deficit on course for surplus

Posted By -NO AUTHOR- On 12/26/2012 @ 11:53 pm In Money,U.S.,World | No Comments

(Washington Times) While Washington wrestles with the nation’s burgeoning budget deficits, some good news has emerged on the other deficit front: The nation’s bloated trade deficit appears to be turning the corner, with at least one prominent economist predicting it will disappear altogether within a decade.

A recent wave of “re-shoring” of overseas manufacturing plants by U.S. chemical, auto and other companies signals the revival of U.S. competitiveness in many industries vis-a-vis Europe, Japan, China and other major trade partners. The trend got a big push recently from a dramatic drop in American natural gas prices, making the U.S. a highly desirable location for manufacturers relying on gas for energy and as a component in plastics, chemicals and other essential materials.


Article printed from WND: http://www.wnd.com

URL to article: http://www.wnd.com/2012/12/trade-deficit-on-course-for-surplus/

© Copyright 1997-2013. All Rights Reserved. WND.com.