The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988.

The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.

Martin Feldstein Quotes