US News & World Report – American politicians have long complained of trade deficits the United States has with foreign nations. China is only the most recent case in point. But from the perspective of President Donald Trump, it is a near-perfect case in point. Last year, Americans bought around $450 billion worth of goods from China, while the Chinese bought only $100 billion worth of goods from Americans, resulting in a trade deficit of some $350 billion. But here’s the rub: A trade deficit is largely meaningless. Consider two things

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