The world’s economy is in the grip of a trade imbalance that’s out of control.
According to the trade economist Paul Romer, this deficit is pushing down the value of the US dollar and causing a major global trade imbalance.
It’s a huge problem for US exporters, and for global trade.
In a recent article for The Atlantic, Romer explained how it works: As a country’s GDP grows, it is more likely to buy goods from countries it can trade with, in a way that is competitive.
The result is a higher price for goods in the US.
That means US consumers are paying more for imports, and companies have to cut costs in order to survive.
The trade deficit in goods is an economic phenomenon, Romers argument goes, and it is responsible for the global economic downturn that has gripped the world in recent years.
The world has been on a trade deficit since 2009, when China imposed a currency manipulation regime that was so crippling that it cost the world $1.3 trillion.
That year, China and the United States announced a $1 trillion dollar deal that would have been the largest trade deal ever signed.
The agreement, known as the Trans-Pacific Partnership, was supposed to have been signed this year.
But the US-led trade deal with 11 other countries, known collectively as the Regional Comprehensive Economic Partnership, didn’t come off.
Instead, it was postponed indefinitely.
The delay was blamed on China, and then the US, not China.
In March, a US-backed trade commission said the TPP would hurt US expats, as it was not clear that the deal would be approved by Congress.
The US is still locked in a long, drawn-out battle with China over the agreement, with the US insisting on lower tariffs on Chinese goods, and China insisting on higher ones.
In the meantime, the US is losing more and more ground to China in the global race to become a major economic power.
In his recent article, Romner explains how the trade imbalance has created a huge trade deficit, and why it’s so damaging to the US economy.
Romer also offers some advice for US policymakers.
He suggests that, if the US really wants to help its exporters and workers, it should try to reverse the trade deficits it’s creating, and help its citizens make more money.
But, he says, “The trade deficit doesn’t mean the US has to be a superpower anymore.
It doesn’t have to be the world’s leading economy.”
It doesn of course, but it’s not really a superpower either, he explains.
So what should the US do?
There are several options that the US can take to help it balance its trade deficit and grow its economy, RomER said.
It could start by opening up to the rest of the world, like Mexico and Canada.
It also could raise the wages of US workers.
The country could, for example, raise its minimum wage.
Or it could use its trade surplus to finance infrastructure projects in countries with which the US does not have a free trade agreement.
“It’s a way of putting the brakes on trade, because if you do that you’re going to hurt US manufacturing,” Romer said.
In any case, the main problem with this plan is that it won’t work.
It would require the US to spend far more money than it has, and to spend that money on a huge infrastructure project that will take years to complete.
That would take money that’s already being spent on other projects, and would leave Americans worse off than they were before.
The problem is that US exponents of this plan argue that this isn’t the way to solve the trade problem.
“We’ve got to keep doing what we’re doing and we’ve got nothing to lose,” US President Donald Trump said last month when he announced the plan to spend $500 billion over the next 10 years on infrastructure.
That’s an enormous amount of money, and a lot of effort and money.
And it’s going to create jobs.
“But it won�t create jobs,” said Paul Romers new co-author of a report that looked at the impact of the trade deal.
“So it doesn’t really do anything to fix the trade imbalances in the world.”
Romer has been writing about trade issues for decades, and his research is often cited by policy makers.
In 2016, Romerman won the James Beard Foundation Prize for Best Book for his research on trade.
His new book, “A Trade History of the World: A History of The World in 15 Minutes,” is set to be released in the fall.