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Tuesday, December 12, 2017

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We have a trade deficit to China. But what does it mean?

By Steve Stretton, published on Dec 16, 2014

For beginners, trade balance is a macroeconomic measure of imports and exports between two countries. When country A’s imports are more than its exports to country B, then country A is said to be under ‘trade deficit’ with respect to country B.

Now let’s understand the current position of trade balance between the US/West and China. As the above graph shows, the trade balance has been in favour of China with the trade deficit of US reaching $318.7 billion in 2013 which is slightly up from last year's $315 billion[1]. Also to be noted is the fact that the deficit has been increasing over... (more)

Tags: china, economy, economics, gdp, balance of trade

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