Insofar as the 'summit', I have little faith that those whom brought there are going to lead us out. Where is Canada's Ralph Gomory?

"If trade is unbalanced, as it has been for many years, goods keep coming in, but we don't balance them by making goods and services for export. Instead we sell our trading partners Treasury Bonds, which are essentially promises to pay later, or less often, ownership of some piece of the U.S. economy. Neither case leads to the creation of jobs in the United States. The first case adds to our already huge foreign debt, the second means that we are gradually turning over pieces of the country to our trading partners.

In free trade theory this unbalanced situation is supposed to be self-correcting. If a greater value of goods flow into the United States than flow out, currency exchange rates should automatically adjust to make imported goods more expensive and automatically rebalance trade. But suppose China, for example, engaged in building its economy by producing for export, subsidizes its industries so they become cheap exporters, and follows this up by preventing the rebalancing of its currencies.

The imbalance then continues. Companies in the United States are unable to compete at these artificial exchange rates and are destroyed, imports remain permanently larger than exports, and the jobs that would have made the goods to balance trade never materialize. This outcome is inconsistent with both the Ketchum goals. Balanced trade is therefore necessary if we are to retain productive jobs at home."

http://www.thenation.com/doc/20070430/greider

http://www.huffingtonpost.com/ralph-gomory/country-and-company-part_b_196131.html

http://www.horizonproject.us/images/FE/chain206siteType8/site175/horizon_final_0123.pdf