Vital Signs: Export Growth Should Help U.S. RecoveryJames C. Cooper
The shape of the global recession has played a big role in the progress toward rebalancing world trade, especially in the U.S. The U.S.-led recession has greatly reduced the flow of imports onto American shores, while the Asia-led recovery is boosting U.S. exports. As a result, the trade deficit has shrunk by more than half over the past three years, greatly reducing the U.S.’s need for foreign capital. The question now: Can this progress continue?
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