Can America continue to be the powerhouse of the world economy during the era of globalization? America's Trade Follies controversially challenges the myths of the American trade deficit and the consequences of current US trade policy. Bernard K. Gordon argues that the global political economy is hardening into regional blocs, all of which are organized around a powerful economic base and suspicious of each other. This masterful analysis show that this division into regional blocs fundamentally threatens American prosperity by limiting US access to the world's richest and largest markets, and endangers US security by dividing the globe along economic and political lines. It is vital then that US trade policy recognizes that support for regional trade blocs is an act of political folly in a globalized economy.