My search for the perfect French souvenir to bring back for my friends and family took me to a rack of brightly colored berets. Perfect I thought. So French.
I picked a bunch of them in the most beautiful rainbow of colors. People would love them back home and the price was almost too good to be true. Each one was just a couple of euros. Then I turned my perfect Parisian present over and there it was: Made in China.
I should have known. Good quality, great price, and available. That’s what Made in China basically means. And that’s also what Free Trade is all about.
Because of Free Trade, we are able to export goods all around the world to other countries who want to buy them, and we can also import whatever we want from other countries. This way we are able to get the best quality and the best price that other countries can supply.
China is the biggest exporter of goods and services in the world. Most of their exports go to the United States, Asia, and the European Union. China exports more goods than it imports so China has a trade surplus. The United States imports more than it exports, so we have a trade deficit.
So basically I could have bought my chic French beret in Chinatown in New York City. But I didn’t and I’ve got the stamp in my passport to prove it.
Peace Love Profits,