Last year, for the third year in a row, the US current-account deficit set a record-this time at more than $400 billion. Will this soaring deficit jeopardize the economy? We don’t think so. There’s nothing inherently good or bad about a current-account deficit or surplus. The rapid increase in today’s deficit merely reflects the extraordinary economic growth of the US economy during the 1990s as compared with the rest of the world.
Content: Article
Authors: Jack L. Hervey, Loula S. Merkel
Source: McKinsey Quarterly
Subject: Economics
Authors: Jack L. Hervey, Loula S. Merkel
Source: McKinsey Quarterly
Subject: Economics
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