2 Nov 2021
Problem 19
Page 574
Section SELF: CHECK QUESTIONS
Chapter 23: The International Trade and Capital Flows
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2 Nov 2021
Introduction
Whereas a trade deficit isn't always a bad thing, there's really no assurance that a trade surplus would result in strong economic growth. For much of the last 3 decades, Germany and Japan, for instance, have had significant trade advantages. Despite their long-term export earnings, both countries suffer periodic downturns, and neither has enjoyed particularly strong yearly growth over the last decade.
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