On why the US has a trade deficit
“Trump is surrounded by number of economists and they think that American trade deficit [is] relative, relative decline of American labour force is due to import China. The import from China is symptoms of having become less competitive. Capital spending in U.S. has been low for 20-30 years. Economists have always argued to boost consumption in order to stimulate the economy. Obviously, one of the consequences of this is the growing trade deficit.”
