Mr. Samuelson Still Doesn't Get Why 'Trade Deficit' Is Great News

Mr. Samuelson Still Doesn't Get Why 'Trade Deficit' Is Great News

A little ways back the New York Times published a piece about the globalized nature of the iPhone. While designed in Cupertino, the inputs necessary to create the supercomputers that line a growing number of pockets come from all over the world. Apple is hardly alone.

Boeing's 787 Dreamliner is manufactured in six different countries, while over 30% of the most American of American cars (the Ford F-150) is foreign made. Notable here is that none of what's been written so far takes into account the endless global cooperation that goes into the creation of the inputs that lead to smartphones, airplanes and automobiles.

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