Trade Balances In China And The US Are Largely Driven By Domestic Macro Forces – Analysis
==========
China's trade surplus increased significantly during the pandemic; US trade deficit grew due to increased dissaving; China’s trade balance is now 2-4% of GDP; US fiscal deficit grew, halving household saving rate; China implemented 5,400 subsidy policies from 2009-2022; China produced 8.9 million EVs in 2023, exporting 1.2 million; industrial policies have limited impact on aggregate external balances; both countries' external balances are primarily homegrown; China needs macro and structural reforms; US requires fiscal adjustments; multilateral trade rules should be strengthened.
#Trade #Economics #China #UnitedStates #Surplus #Deficit #Macroeconomics #IndustrialPolicy #Reforms #Subsidies
https://www.eurasiareview.com/14092024-trade-balances-in-china-and-the-us-are-largely-driven-by-domestic-macro-forces-analysis/
Eurasia Review /
npub1wc…jzsfw
2024-09-14 00:45:21
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npub1wc7d8ck45cw5jgdwx6du933w2eqtgpmyvxgk6wtmzdghtpwrx2cqejzsfwPublished at
2024-09-14 00:45:21Event JSON
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"content": "Trade Balances In China And The US Are Largely Driven By Domestic Macro Forces – Analysis\n==========\n\nChina's trade surplus increased significantly during the pandemic; US trade deficit grew due to increased dissaving; China’s trade balance is now 2-4% of GDP; US fiscal deficit grew, halving household saving rate; China implemented 5,400 subsidy policies from 2009-2022; China produced 8.9 million EVs in 2023, exporting 1.2 million; industrial policies have limited impact on aggregate external balances; both countries' external balances are primarily homegrown; China needs macro and structural reforms; US requires fiscal adjustments; multilateral trade rules should be strengthened.\n\n#Trade #Economics #China #UnitedStates #Surplus #Deficit #Macroeconomics #IndustrialPolicy #Reforms #Subsidies\n\nhttps://www.eurasiareview.com/14092024-trade-balances-in-china-and-the-us-are-largely-driven-by-domestic-macro-forces-analysis/",
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