The U.S. trade deficit: Rekindling the trade and competitiveness debate

The 1994 US trade deficit may be the largest in history. The bottom line is that the prosperous US market is slowing down. Many companies and individuals are responding by looking to more dynamic foreign markets both to produce and to sell products. For the long term, however, managers and public officials worldwide should work to find productive ways to reverse the steady slide in the growth of US incomes and earnings and to speed up the world's largest economic engine.