Scott Lincicome on the Trump Trade War
Macro Musings with David Beckworth
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Understanding Trade Deficits and Global Economics
This chapter critiques the simplistic focus on bilateral trade deficits, highlighting the complexities of global supply chains and the importance of value-added trade balances. It discusses the interconnectedness of saving, spending, and investment behaviors across nations, emphasizing that trade deficits reflect broader economic dynamics rather than isolated trade policies. The conversation also addresses the misleading narratives surrounding trade relationships, particularly in the context of U.S.-China trade dynamics and the implications for job markets.
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