The US has had a trade deficit since 1975, so is the US trade deficit really such a bad thing?
In: 436
No, the US sell services and imports goods. If I make a killer app worth a trillion dollars, that doesn’t count as an export. If I use my new-found wealth to buy German cars, that gives America a trade deficit.
In other words, the US gets rich via tech, finance, things that aren’t counted as exports. The money people make doing this stuff is used to buy things in countries where it’s cheaper to make it and ship it.
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