OP mentioned a country, so not just the US, that is why I asked.
Edit: Alright, by reading the link, what Friedman means, I think, is that a country still need to export more than import, but should export just the minimum enough to pay for the imports. In volume (so I'd guess manufactured products not commodities).
There is another side of the ledger e.g. currency so the question is then how does a currency remain valuable when more has to be produced to keep buying things, as opposed to selling things.
US has been running a trade deficit for only the past 60 years, since the Nixon shock which is probably very related.
While on paper the US is per capita wealthier today I think that’s more to do with ponzi economics.
> While on paper the US is per capita wealthier today I think that’s more to do with ponzi economics.
It is still the most developed economy but with a healthcare and education expense bigger than any other country while the citizens still need to pay a fortune for it.
Edit: Alright, by reading the link, what Friedman means, I think, is that a country still need to export more than import, but should export just the minimum enough to pay for the imports. In volume (so I'd guess manufactured products not commodities).