Workers make stuffed toys for export at a factory in Linyi, Shandong province, China, on June 26. Donald Trump has repeatedly expressed his displeasure at the US’ trade deficit with China. Photo: Reuters
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

Why Donald Trump’s ‘unfair trade’ label is far from fair as surpluses present only a partial picture

Anthony Rowley says the IMF’s characterisation of some countries’ surpluses as ‘excessive’ adds ammunition to Donald Trump’s protectionist rhetoric but the reality of current accounts are complicated by capital flows and consumption patterns

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Workers make stuffed toys for export at a factory in Linyi, Shandong province, China, on June 26. Donald Trump has repeatedly expressed his displeasure at the US’ trade deficit with China. Photo: Reuters
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