Where his predecessors fell short, Mr. Gorbachev seemed to believe, was in trying to import Western capital and technology but to screen out liberties and democracy.

But for the next 10 to 15 years we will have to import capital.

A massive surplus, which reduces the need to import foreign capital, is a key to the recovery plan.

That was the first time since 1980 that Japan imported more long-term capital than it sent abroad.

Such a situation would reduce United States need to import foreign capital and could thus curb the trade imbalance.

But the recent financial troubles have forced Japan to import long-term capital, even though it is still racking up record-sized trade surpluses.

In coming years, it will not be as easy to import capital and keep interest rates low if the euro provides serious competition for the dollar.

And we are importing too much capital, because we are saving too little and spending too much, as both a society and a government.

The United States is importing more capital than consumer goods.

While America and Europe supply technology to the rest of the world, they collectively import capital.