5 years ago
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The $1.4 Trillion U.S. ‘Surplus’ That Trump’s Not Talking About
The U.S. has a surplus of $20 billion with China and $1.4 trillion with the rest of the world. That’s not a normal trade balance, of course, where the U.S. registered an annual deficit of more than $330 billion with China and about $550 billion with the world last year, but an "aggregate sales surplus" which measures both direct trade and the sales of multinational companies, according to research by Deutsche Bank AG.
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So a fruit based handset manufacturing subsidiary in China, selling to Chinese, paying only Chinese taxes, using transfer pricing to move money around, now counts as US trade (for the purposes of this "research").
This sounds like something from the Department of Made Up Statistics. Much like "aggregate sales surplus".
Are you questioning the Department of Made Up Statistics?
Certainly not! Whoever said I was, made that up.