America's maligned and misunderstood trade deficit

From: USA Today | Date: November 1, 1998| Author: Griswold, Daniel T | Copyright information

"It is imports, not exports, that allow Americans to enjoy a higher standard of living. Exports without imports are like a job without a paycheck."

ONE OF THE MOST politically volatile consequences of the financial and economic turmoil in the Pacific Rim will be a rising U.S. trade deficit in 1998. Plunging growth rates in the region will mean less demand for U.S. exports, while falling foreign currency values will make Asia's exports to the U.S. more affordable, spurring demand by Am...

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