People line up at the entrance of Macy's Herald Square ahead of the early opening for Black Friday sales in Manhattan, New York, on November 24. The US relies on foreign saving and trade deficits to sustain economic growth. Photo: Reuters

If Trump does curb trade, he’d better get Americans to save more – a lot more

Stephen Roach says any move by the US president-elect to cut the trade deficit is impracticable in a nation with chronic low savings, and the effect would be disastrous

Topic |   Donald Trump

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People line up at the entrance of Macy's Herald Square ahead of the early opening for Black Friday sales in Manhattan, New York, on November 24. The US relies on foreign saving and trade deficits to sustain economic growth. Photo: Reuters
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