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The US has by far the largest trade deficit in the world. It's a net consumer, because it can print dollars. It is not remotely the most powerful productive eco
by pphysch 4y ago
The US has by far the largest trade deficit in the world. It's a net consumer, because it can print dollars. It is not remotely the most powerful productive economy on a per-capita basis.
- dhd415 4y agoIt's certainly an accomplishment to achieve a highly productive per capita economy, but I don't think it's quite the slight on the US when the four countries with higher productivity per capita range in size from 0.3% to 2.8% of US GDP. Achieving productivity per capita at scale is hard.
- thehappypm 4y agoCompared to small, rich city-states and oil-rich Middle Eastern countries, sure. But in any more apples-to-apples comparison — the EU, China, India, Brazil - the US is in the lead by a lot.