Emeritus Prof Christopher May on Nostr: The latest trade data continues to demonstrate the UK (like many large developed ...
The latest trade data continues to demonstrate the UK (like many large developed countries) exports services to pay for imported goods.
We are running an overall trade deficit, which implies either (as a country) we are running down reserves to pay for our imports, we are dependent on debt to pay for them, or actually a bit of both.
In the (very) long run this is not a sustainable position, but in the short-run, it merely indicates a direction for beneficial economic policy.
#trade #economics
We are running an overall trade deficit, which implies either (as a country) we are running down reserves to pay for our imports, we are dependent on debt to pay for them, or actually a bit of both.
In the (very) long run this is not a sustainable position, but in the short-run, it merely indicates a direction for beneficial economic policy.
#trade #economics