4 ms·
No actually, the majority of large economies are all export based economies, it's pretty much the US and a handful of much smaller economies like the UK on the
by corimaith 1y ago
No actually, the majority of large economies are all export based economies, it's pretty much the US and a handful of much smaller economies like the UK on the other side of the balance sheet.
It's arithmetically impossible for everyone to be exporter, and those large enough to absorb those surpluses like China, India and the EU are not going to be willing to run aggregate deficits, certainly not short-medium term without painful adjustments.
As for the "global south", their markets combined don't reach close to the size of the US market.