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During the 1800s when it was seen as having the world's strongest economy, Great Britain often ran trade deficits with its trading partners. According to
During the 1800s when it was seen as having the world's strongest economy, Great Britain often ran trade deficits with its trading partners. According to some economists, these trade deficits were to Britain's advantage. What was the reason that those economists did not see trade deficits as an economic problem?
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