The United States must regain its status as the “workshop of the world”, so its economy urgently needs reindustrialisation. About Writer foreign affairs.
States must regain the status of “workshop of the world” and restore scope of production. This is why the US needs “reindustrialization” and “new economic patriotism”. At the same time, the need for such measures arose due to the fact that America began to gain dependence on the supply of goods from other countries.
The publication noted that US residents needed a new kind of economic patriotism that would withstand calls from other countries to return jobs. Now the policy should be aimed at increasing domestic production and exports. At the same time, the restoration of American industry does not mean isolation from the other world. It is important to revive important industrial sectors without losing commercial relations.
According to the authors of the article, even if the trade balance is achieved, China will remain the main competitor of the USA. However, re-establishing the trade balance may reduce the degree of tension between the American and Chinese sides. As for internal interests, then it will be possible to realize the prosperity of democracy and the benefits of globalization in the country.
January 13 Wall Street Journal WroteHe said that in the last month of 2022, the size of the US federal budget deficit increased to 85 billion dollars, which is more than in the same month of 2021.