Except, you know, for $14 trillion in goods and services every year. Little things like that...
I have not ignored that, but am trying to figure out what things would cause the US$ trend to reverse. The thesis of the article is that that dollar should turn around. The presumption behind this must be that trade balances and financial flows have adjusted rapidly to make the dollar relatively underpriced. But my argument is that aside from commodities we have a hard time producing for export, and for a particular reason. The US is still struggling with high quality product design and fabrication. Virtually every manufactured good I purchase I compare quality and select on the basis of design functionality and quality of construction, even paying 2-3 times what I might get away with using lower standards. I do this because I am tired of American and Chinese manufactured $HIT that does not work as advertised and breaks trying to get it out of the box. Given our trade deficits I would guess I am not alone in my tastes and predilections.
I see nothing in that trend that is changing, and I think it will take a fundamental structural change in our economy that rewards folks who invent and design and manufacture, and not folks who are good and moving money around and folks who argue the lawsuits for or against those who do.
Furthermore, about 1/2 of our economy has nothing to do with exports, being government, healthcare and energy. 1 in 7 dollars in the US goes to health care and yet none of us think we have a great health care system. Michelle Obama as a lawyer gets $300K + as an administrator, as an example. I would bet that only a few specialist MDs get paid more than that and most GPs get 1/2 of that.
It is example after example throughout our economy of things that make no sense and would not be that way if there were a free market exchange of goods and services in that particular sector, including the right not to participate at all in that sector.
I think we have too many built in structural problems that have nothing to do with foreign financial flows for goods and services to lead to a genuine reversal of the trend.