There are good reasons not to be worried about our trade deficit with the rest of the world, but at least I can understand the concern. What I don’t understand is why anyone worries about our trade deficit with any particular country – like, say, China. This is, as Don Boudreaux notes, akin to worrying about your trade deficit with the grocery store: You keep buying stuff from them, and they never buy anything from you! It’s a catastrophe waiting to happen!
Read Boudreaux for more.