If you've been reading this column for any period of time, you know I usually support free trade. But with free trade comes the responsibility of fair trade. Our deficit with China has gone too far, and I continue to work for a reasonable currency exchange rate—something the Chinese have thus far avoided. Still, there are hundreds of millions of dollars being spent on imported products even where there is a domestically made alternative. Why? The answer is simple: value. Note that I call it "value" and not its often-confused alternative: price. Price will get you a sale but it takes value to get repeat sales and word-of-mouth driven marketshare.
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