With all the coverage of America’s supposed manufacturing renaissance, you’d think that news of a new record monthly U.S. trade deficit in manufacturing would be considered…news. Unfortunately, you’d be wrong – except for BusinessWeek’s Peter Coy, who recognized why historic trade shortfalls clash violently with claims of an historic comeback for American industry.
Peter also reported my finding that the manufacturing-heavy U.S. trade deficit with China had just hit a new monthly record, too — which makes it difficult to believe the continued boasts that America’s industrial resurgence is taking place largely at the expense of the PRC. In turn, Peter’s post was picked up by the MarketPulse.com website.
As for the rest of the media? Well, why should they be interested? Apparently, when it comes to manufacturing, their new motto is “all the good news that’s fit to print.”