A pretty old issue – Ancient silk road trade routes across Eurasia.
I had planned to do a somewhat longer Q & A type post on this topic, partly based on this exchange with Warren Mosler
where Warren writes “And in any case, in general they all remain blind to the fact that imports are real benefits and exports real costs.”But really I think most of the issues are discussed so well by Sergio Cesaratto in the following links that there is not too much to add:
NAKED KEYNESIANISM: The spurious victory of MMT
and summarized so well here
Some Serious Criticism of MMT (this includes good stuff from Bill Mitchell, the bit on Kazakhstan)
I will still post a few thoughts later, but if anyone has not read Sergio Cesaratto’s stuff (and the comments, especially by Neil Wilson) they will find them very enlightening.