Balanced trade is an alternative economic model to free trade. Under balanced trade nations are required to provide a fairly even reciprocal trade pattern; they cannot run large trade deficits.
The concept of Balanced Trade arises from an essay by Michael McKeever Sr. of the McKeever Institute of Economic Policy Analysis. According to the essay, "BT is a simple concept which says that a country should import only as much as it exports so that trade and money flows are balanced. A country can balance its trade either on a trading partner basis in which total money flows between two countries are equalized or it can balance the overall trade and money flows so that a trade deficit with one country is balanced by a trade surplus with another country."
Read more about Balanced Trade: Implementation
Famous quotes containing the words balanced and/or trade:
“With a balanced combination of the two principal energies from mother and father, a girl can both be in touch with her womanly strengths and be a powerful force in the world—strong and nurturing, decisive and caring, goal- oriented and aware of the needs of others. She has the courage to voice what she thinks and feels and the strength to follow her destiny.”
—Jeanne Elium (20th century)
“Unless we do more than simply learn the trade of our time, we are but apprentices, and not yet masters of the art of life.”
—Henry David Thoreau (1817–1862)