Trade deficit is also called "trade surplus". The phenomenon that the import value of each country or region exceeds the export value in a certain period of time. Generally speaking, a country's foreign trade is at a disadvantage.
The trade deficit reflects the commodity trade between countries and is also an important indicator to judge the macro-economic operation. 20 1 1 In the first quarter, China experienced a quarterly trade deficit for the first time in six years, which eased the pressure of RMB appreciation to some extent. When the net export is positive, it is called trade black word, trade surplus, trade surplus or surplus. When the net export is negative, it is called trade deficit, trade deficit or surplus.
Extended data
cause analysis
There are many reasons for the US trade deficit. In June, 2000, the US Congressional Investigation Committee on Trade Deficit published an investigation report on the causes of the trade deficit. In their view, the main reason lies in the unequal trade relations between the United States and other countries, such as: non-tariff barriers in other countries; Dumping foreign goods to the United States; Subsidies from foreign governments to domestic companies.
Feldstein (1993), chairman of the National Bureau of Economic Research, emphasized the decisive role of fiscal deficit in the US trade deficit, and put forward the famous "twin deficits Hypothesis": under the background of huge fiscal deficit, the monetary authorities will not finance the fiscal deficit in order to prevent inflation, so the fiscal deficit will lead to the rise of interest rates, the inflow of foreign capital and the appreciation of the US dollar, thus resulting in a trade deficit.
This view was very convincing in the 1980s. Since George W. Bush took office, the US fiscal deficit has been expanding year by year like a trade deficit, reaching $375 billion in fiscal year 2003, $41500 million in fiscal year 2004, and is expected to reach the highest record of $526,543,800+0 billion in 2005.
However, it is difficult to fully explain the huge deficit of the United States, because the fiscal deficit of 1989- 1992 is greatly expanding, but the trade deficit is shrinking; From 1993 to 2000, the fiscal deficit decreased year by year, and it began to turn losses into profits from 1998. In 2000, there was a high surplus of $237 billion, but the trade deficit was expanding year by year. Nor can it fully explain the huge deficit since the 1990s.
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People's Daily Online-Where does the Sino-US trade deficit come from?