In the section on monopolistic competition and efficiency, the text notes that monopolistic competition “supports a surplus of firms that mostly underutilize their capacity.”
Aiming at the shortage of visbreaker feedstock and fuel oil as well as the surplus of asphalt in Shanghai Oil Refinery, asphalt blended feedstock was tested.
So analysts think smaller trade surpluses could be here to stay – although the shift isn't likely to be severe enough to traumatize the U.S. bond market.