Global Imbalances and the Persistent US Trade Deficit

Robert Z. Aliber
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Robert Z. Aliber: University of Chicago

Chapter 9 in The New International Money Game, 2011, pp 118-133 from Palgrave Macmillan

Abstract: Abstract In 1980 the United States was the world’s largest international creditor country; its net foreign assets were larger than the combined net foreign assets of all other creditor countries as a group. Britain, France, the Netherlands, and Switzerland were the other large creditor countries. By 2000 the United States had become the world’s largest debtor country, and its net foreign liabilities were larger than the combined net foreign liabilities of all other debtor countries as a group. Between 2000 and 2008 US net international indebtedness increased from $1600 billion to $3200 billion; the ratio of the US net international indebtedness to US GDP increased from 16 percent in 2000 to 24 percent in 2008.

Keywords: Central Bank; Trade Balance; Nontradable Good; Trade Surplus; Debtor Country (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24672-0_10

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DOI: 10.1057/9780230246720_10

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