rishabhmishra wrote:
sir can you please help me to understand the argument
According to the author, "large national budget deficits do not cause large trade deficits." The rest of the passage supports this claim:
- If large national budget deficits DID cause large trade deficits, then "countries with the largest budget deficits would also have the largest trade deficits."
- However, when countries are reliably compared (by adjusting deficit figures), "there is no such correlation."
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