Essentially you seem to want more of the same of what we had for the past decades: more cheap goods and loss of production know-how and all that goes along with it. This feels a bit funny as (i) just in the recent years many economists, after having been dead-sure that old pattern would only mean great benefits, may not quite be so cool overall (covid exposing risky dependencies, geopolitical power loss, jobs...), and (ii) your strongman in power shows to what it leads if we only think of ‘surplus’ (even your definition) instead of things people actually care about more (equality, jobs, social security..).
You’d still be partly right if the world was so simple that handing the trade partners your dollars would just mean we reprint more of it. But instead, handing them your dollars gives them global power; leverage over all the remaining countries in the world, as they have now the capability to produce everything cheaply for any other country globally, plus your dollars to spend on whatever they like in the global marketplace for products and influence over anyone. In reality, your imagined free lunch isn’t quite so free.
Essentially you seem to want more of the same of what we had for the past decades: more cheap goods and loss of production know-how and all that goes along with it. This feels a bit funny as (i) just in the recent years many economists, after having been dead-sure that old pattern would only mean great benefits, may not quite be so cool overall (covid exposing risky dependencies, geopolitical power loss, jobs...), and (ii) your strongman in power shows to what it leads if we only think of ‘surplus’ (even your definition) instead of things people actually care about more (equality, jobs, social security..).
You’d still be partly right if the world was so simple that handing the trade partners your dollars would just mean we reprint more of it. But instead, handing them your dollars gives them global power; leverage over all the remaining countries in the world, as they have now the capability to produce everything cheaply for any other country globally, plus your dollars to spend on whatever they like in the global marketplace for products and influence over anyone. In reality, your imagined free lunch isn’t quite so free.