Heading for trade war with China

posted by
December 5, 2016
Cato Institute
by Steve H Hanke  
Posted in Commentary

"The US has recorded a trade deficit in every year since 1975. This is not surprising -- America spends more than it saves, and this deficit is financed by means of a virtually unlimited US line of credit with the rest of the world. Economies that save more than they spend, and which record corresponding trade surpluses, ship funds to the US to finance America's insatiable spending. Japan and, more recently, China have been the primary creditors for the savings-deficient US." (12/05/16)


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