Eurasia Review on Nostr: Trade Balances In China And The US Are Largely Driven By Domestic Macro Forces – ...
Trade Balances In China And The US Are Largely Driven By Domestic Macro Forces – Analysis
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China's trade surplus increased significantly during the pandemic; US trade deficit grew due to increased dissaving; China’s trade balance is now 2-4% of GDP; US fiscal deficit grew, halving household saving rate; China implemented 5,400 subsidy policies from 2009-2022; China produced 8.9 million EVs in 2023, exporting 1.2 million; industrial policies have limited impact on aggregate external balances; both countries' external balances are primarily homegrown; China needs macro and structural reforms; US requires fiscal adjustments; multilateral trade rules should be strengthened.
#Trade #Economics #China #UnitedStates #Surplus #Deficit #Macroeconomics #IndustrialPolicy #Reforms #Subsidies
https://www.eurasiareview.com/14092024-trade-balances-in-china-and-the-us-are-largely-driven-by-domestic-macro-forces-analysis/
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China's trade surplus increased significantly during the pandemic; US trade deficit grew due to increased dissaving; China’s trade balance is now 2-4% of GDP; US fiscal deficit grew, halving household saving rate; China implemented 5,400 subsidy policies from 2009-2022; China produced 8.9 million EVs in 2023, exporting 1.2 million; industrial policies have limited impact on aggregate external balances; both countries' external balances are primarily homegrown; China needs macro and structural reforms; US requires fiscal adjustments; multilateral trade rules should be strengthened.
#Trade #Economics #China #UnitedStates #Surplus #Deficit #Macroeconomics #IndustrialPolicy #Reforms #Subsidies
https://www.eurasiareview.com/14092024-trade-balances-in-china-and-the-us-are-largely-driven-by-domestic-macro-forces-analysis/