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by zozbot234
1621 days ago
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This "buy oil" stuff is a non-sequitur from an economic POV. A current-account deficit is the flip-side of a capital-account surplus, i.e. of money flowing into the U.S. as investment, from whatever source. Far from handicapping "ability to produce and manufacture things domestically", a persistent trade deficit may thus be a reflection of that very ability. |
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