Any Present consumption supported by large trade deficits may come at the expense of:
This refers to the economic situation that occurs when the country's imports exceed its exports during a given time period, also known as a negative balance of trade.
The balance of the trade deficits are be calculated on different categories of transactions such as goods, services etc.
Hence, the Present consumption supported by large trade deficits may come at the expense of permanent debt to foreign interests, permanent foreign ownership of formerly nationally-owned assets and large sacrifices of future consumption
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