7. Former President Donald Trump argued that China was exploiting the United States. In particular, he decried
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7. Former President Donald Trump argued that China was exploiting the United States. In particular, he decried the large trade deficit with China—he often said that China was “killing” the United States on trade. Is having a trade deficit with another country inherently bad?
Explain why a trade deficit may not be a bad thing for the United States. What are the scenarios under which a trade deficit would be a problem?
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