The resulting favorable balance of trade was thought to increase national wealth. Great Britain was not alone in this line of thinking. The French, Spanish, and Portuguese competed with the ...

This is because the health care sector is a rare case in which the United States actually maintains a trade surplus with China and many China-based firms have developed a global footprint ...

Friedman added that "when people talk about a favorable balance of trade…it's taken to mean that we export more than we import. But from the point of our well-being, that's an unfavorable balance." ...