An article on the problems associated with the large trade deficit:
"Miami economist Manuel Lasaga, who burnished his University of
Pennsylvania doctorate in economics with a stint at Citibank
renegotiating the Latin-American debt in the 1980s, shares few
characteristics with Chicken Little, who always warned that the sky was
Still, the 53-year-old economist correctly sounded the alarm over
the need to devalue the overvalued Argentina peso back in the 1990s,
when such talk was dismissed by the Argentine government, which later
faced financial and economic implosion."
You can read the full article at the Miami Herald.