America's Other 87 Deficits
The US runs a huge trade deficit with China, but it also runs deficits with 87 other countries. These deficits cannot be fixed by putting pressure on one of the bilateral components – but try telling that to America’s growing chorus of China bashers.
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NEW HAVEN – The United States has a classic multilateral trade imbalance. While it runs a large trade deficit with China, it also runs deficits with 87 other countries. A multilateral deficit cannot be fixed by putting pressure on one of its bilateral components. But try telling that to America’s growing chorus of China bashers.