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In chapter 13 we are given the Figure 13.2 The U.S. Current Account and Net International Investment Position, 1976-2019 and here it shows that in
In chapter 13 we are given the Figure 13.2 The U.S. Current Account and Net International Investment Position, 1976-2019 and here it shows that in America we have accumulated I would consider extreme levels of debt. While at the same moment we are growing in out GDP. But it appear that they are not growing at a similar or even comparable rate. So my question is why does there seem to be no repercussions to this? But if there is what are they.
Figure 13.2 The U.S. Current Account and Net International Investment Position, 1976-2019 Current account, net foreign wealth (billions of dollars) 2,000 Current account -2,000 -4,000 Net foreign wealth -6,000 -8,000 -10,000 -12,000 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 A string of current account deficits starting in the early 1980s reduced America's net foreign wealth until, by the early 21st century, the country had accumulated a substantial net foreign debt. Source: U.S. Department of Commerce, Bureau of Economic AnalysisStep by Step Solution
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