And the net trade account has gone from near balance in 1971 to massive deficits today.
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But the interest rates on offer are better than on the Self Trade account.
Yet, the merchandise trade account has gone from a minor deficit to a massive 3% of GDP.
It seems that the textbook discussion of currency and the trade account needs to be updated to account for the compelling facts of globalization.
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Solomon checks his Ditto Trade account every day the market is open and plans to stick with the company as his primary investment account.
As long as politicians insist that our trade account is a scoreboard and that a surplus is a trade policy success metric, Americans will continue to be skeptical about trade.
Since savings equals investment, any increase in the U.S. savings rate relative to investments will be offset by lower capital inflows and a dollar for dollar improvement in the trade account.
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The culprit is not the trade deficit--the greenback showed strength against the euro in 2005 and much of this year, even though our trade account is allegedly drowning in red ink.
Despite a long history as a huge exporter of commodities, Indonesia has flipped from having a trade account surplus to a deficit in recent months, and last quarter recorded its biggest ever current-account deficit.
Anyone Main Street investor with an E-Trade account thinking that it makes no sense that a fund holding low yielding securities can still clobber a fund holding higher yielding securities need only to consider the political demand around the world for U.S. debt.
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Meanwhile, this year, Peru became the first Latin American country to open a yuan-denominated trade settlement account.
The U.S. has had a trade and current account deficit for many years, so the matching of jobs created and lost through international trade may not have resulted in a perfect match because of export and import equality.
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In practical terms, it means that you have to take economic cost-benefit trade-offs into account in environmental laws, and keep environmental trade-offs in mind with economic development.
And the Commerce Department reported Thursday that the U.S. current account trade deficit narrowed in the final three months of 2012.
Mr Castro said if remaining limitations on licences to sell food to Cuba were lifted, US trade could eventually account for more than half the island's food supply, said Mr Summer.
Imports of the precious metal have been a major contributor to India's wide trade and current-account deficits.
And, he added, the country ran both current-account and trade deficits.
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Anyone in the world may use Schwab's English-language website (www.schwab.com) to open a U.S. dollar-based account and trade U.S. stocks assuming, of course, that the financial regulators in the customer's home country approve.
The major difference is that you need a brokerage account to trade them because shares trade on a stock exchange during the day, rather than at the end of the day with a fund company.
The current account is in surplus, but at some point a falling trade balance could send the current account into deficit, creating huge dangers and risk of macro financial market disruption.
In terms of global trade, the BRICs currently account for around 12.4% of global exports, rising to 20.1% in 2015.
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Most trade statistics simply fail to account for foreign investment.
This strong reaction by Western credit markets contrasts sharply with the long-standing practice of Free World suppliers who, as demanded by Moscow, formerly agreed to conduct virtually all trade on an "open account" basis.
So while there are myriad currencies around the globe, the unit of account utilized for trade and investment, not to mention the benchmark money concept against which all other currencies are measured remains the dollar.
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Lawrence Katz, a Harvard economist who discussed Mr Krugman's paper at Brookings, estimates that, using Mr Bivens's approach, trade with poor countries can account for about 15% of the growth in the wage gap between skilled and unskilled workers since 1979.
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Exclusion means Congo cannot trade diamonds with the process' 43 member states, which account for over 98% of the world's diamond trade.
Beyond mid-year, we expect a steady decline of the trade balance to reduce the current account.
The trade balance and the broader current account balance are obviously key to what happens to the dollar.
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