Some counterarguments:
> it is better for a country to have a diverse manufacturing base
A country can exist and be wealthy without diverse manufacturing base.
> a net positive balance of trade
A country can have stable and growing economy with negative balance of trade, as long as certain conditions are met. In short, this country may offer something else to compensate trade deficit, i.e. there can be a price tag on military and political power.
>A country can exist and be wealthy without diverse manufacturing base.
This theory has yet to be tested in a peer war.
> i.e. there can be a price tag on military and political power
And what about services the US provides? Google and Microsoft are some of the biggest companies and bring a ton of money to the US, but this doesn't seem to be included in the calculation because they don't sell physical goods.
> bring a ton of money to the US
Are they? Or do they keep their profits overseas?