l. The following equation tells us that to reduce a current account decitI a country must increase its private savingI reduce domestic investment, or cut its government budget deficit. NowadaysI some people recommend restrictions on imports from China and India {and other countries} to reduce the American current account deficit. How would higher LLS. barriers to imports affect its private saving, domestic investment and government deficit? Do you agree that import restrictions would necessarily reduce a 1.1.5. current account deficit? SF=I+CAS' = I+CA(TG)= I+CA+{GT)