Tuesday, April 15, 2008

2007 Current Account Balances

From the CIA, ranked by country, from #1 China with a $363.3 billion surplus, to #164 U.S. with a -$747.1 billion deficit.

3 Comments:

At 4/15/2008 9:04 PM, Anonymous Alex said...

I don't think I would want my country to have a surplus.

 
At 4/16/2008 12:15 AM, OpenID sethstorm said...

Having a debt that deep does have a large disadvantage. It means that we're tied to places normally shunned by previous policy.

Nations that provide junk will continue to do so with slave labor. Unlike the first round, there will be no quality advantage, just cheap junk. Choice will be removed as we will have that as the only (practical/available) option.

In short, that means we have no bargaining chip in national defense. That is one chip we need, and one we don't know we've already lost.

 
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