Today statistics were released regarding the size of the current trade deficit – the catalyst for the current trade war.
It doesn’t appear to be going the way President Trump envisaged.
By the end of last year, China exported $324bn more in goods and services to the US than it imported.
That’s a record surplus, more than a quarter bigger than it was before Mr Trump came to power!
Also the market appeared to express concern that China’s economy was slowing and that National Dept compared to GDP has mushroomed.
It has mushroomed in the last 10 years due to in the main part the construction of infrastructure spending.
Thousands of miles of new railways and dozens of new underground systems and airports constructed.
To my mind they are good things for a country to borrow money to do?
So called ‘good debt’
Debt as a proportion of the economy has soared, from 140% of GDP in 2007 to nearly 260% now.
Japan has 253% but the press don’t talk about it at all.
Greece 178.60% and seems to spend it on social welfare provision including allowing early retirement at the age of 50 for trombonists bakers, hairdressers and masseurs, who are allowed to retire early because of the nature of their work.
OK – so may be they reduced this list of eligible people down to 100 in 2016 , but you get my point!