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In 2002, imports to the United States from developing nations totaled a whopping $317 billion. (The United States is the single largest market for developing nations' goods.) Exports from the U.S. to those nations totaled $130 billion. Both imports and exports are important, but look at the difference, that is, the trade deficit that resulted for the United States: $187 billion. That's 44 percent of the entire trade deficit that the United States ran last year with all nations.
In other words, with developing countries, the United States buys a good deal more than it sells. Consider a few examples. Last year, the Philippines sold exports worth $11 billion to the United States and bought American imports worth $7 billion, for a deficit (to the U.S.) of $4 billion. Malaysia's exports to the United States exceeded its American imports by $14 billion. For Korea, the surplus relative to the United States is $13 billion; for Brazil, $3 billion.
It may be surprising, but high technology......

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