Essay: The Job Ahead for U.S. Business

America's trade problem is both complex and simple. Politicians, business executives and economists discuss such arcane tactics as dumping or trademark protection, but the basic questions are far less bewildering. Will America adopt a defensive or an offensive strategy in the world economy? Will the U.S. build up seemingly strong walls to protect its domestic industries against an onslaught of goods from abroad? Or will it strive to continue as a leading economic power at the forefront of technology by pushing into new markets at home and overseas?

In many ways, the defensive strategy is appealing. It certainly would be easier....

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