Our balance-of-trade deficit has to grow, paring 1998s economic momentum.
This would involve a multibillion dollar purchase of off-the-shelf American military hardware like Airborne Warning and Control System aircraft and tankers adding immeasurably to the defense of the Western Pacific, offering greater flexibility to U.S. forces otherwise committed to protecting Japan and helping to offset somewhat the yawning balance-of-trade deficit.
CENTERFORSECURITYPOLICY: Security Policy In The Post-Kuwait World
There were no major economic announcements out of the euro area today with the exception of a trade balance reading that showed a deficit of 3 billion euro.
However, this capital surplus does not count in the balance of trade and leaves a massive trade deficit with Wakanda.
That is, right up until the Chinese reported an upsetting balance of trade number and the U.S. trade deficit spiked yesterday.
In February, their trade balance with the rest of the world went into deficit.
China's overall trade balance was in deficit in the first three months of this year, thanks to strong import growth.
As such, recent trends in trade flows and the balance of payments suggest that the current account deficit for this fiscal year will likely reach a record of about 5% of GDP before narrowing closer to 4% next year.
Those worried about the U.S. trade deficit should thank George Mitchell as our net energy balance improves by hundreds of billions of dollars.
The current account is in surplus, but at some point a falling trade balance could send the current account into deficit, creating huge dangers and risk of macro financial market disruption.
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