It seems patently self-evident then, that we should want to export as little as possible to pay for our imports. Whilst the answer is yes we are getting more for less, the devil may be hiding in the details. Yet, neither option is necessarily cause for concern, despite the claims of their detractors. We may be quite comfortable with the alternative of selling assets, after all, contrary to popular perception, our assets are not fixed in value. And though land may be fixed in quantity, it only makes up a very small proportion of the value of our assets.
Most assets are in the form of capital - such as businesses.
Borrowing from overseas is also not the bogey it is made out to be by many economists and politicians. In fact, borrowing from overseas and selling equity overseas are essential to countries which do not have adequate levels of savings with which to finance growth. Foreign debt and investment are so badly misunderstood, that I have chosen to explain both in a separate essay - Why living beyond our means has nothing to do with Debt . Firstly, exports are not unconditionally good, and our aim should not be to export for the sake of exporting. Exports represent the price we pay for the greater benefit derived from the goods we acquire from overseas.