Yesterday’s weak ISM PMI under 50 shows that finally also the United States are in contraction as for industrial production. The dollar is simply too strong. The Americans consume, but the US trade deficit gets bigger. The Chinese, Japanese, Germans and some global US firms take the profits on it. The global imbalances are getting bigger.
Today a worth-reading “propaganda” paper came out. In this paper the United States Council for International Business and two other US organizations claim that these global US companies even create jobs in the United States, not only abroad.
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Tags: trade deficit,United States