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US has been running overall trade deficits since 1976

The US deficit peaked at 5.5% of GDP in 2006, but usually amounts to around 3% of GDP.

China’s current-account surplus down from nearly 10% to 1% of GDP over the past decade.

Zhu Min Project Syndicate Jan 22, 2019

Zhu Min, a former deputy managing director of the International Monetary Fund, 
is Chair of the National Institute of Financial Research at Tsinghua University, Beijing. 

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