Jul 15, 2007
| Last Updated
A crucial feature of the global economy right now is the large US current account deficit and the surpluses of most – but not all – of the rest of the world. The US current account deficit rose from $640b in 2004 to $755b in 2005, to $811b in 2006 (or 6.1% GDP) and is likely to be even larger in 2007. The US, the world’s largest economy – and the world’s preeminent military and geo-strategic power – is also the world’s largest debtor. The current account surpluses of most other regions of the world[...]
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