Topic: | Re:Balance of Payment Crisis? | |
Posted by: | Dan Evans | |
Date/Time: | 02/10/15 10:00:00 |
There is no need to be concerned about the Balance of Payments because by definition they balance. I think what you mean is should we be concerned about a current account deficit. The short answer is that we probably shouldn't because the figures have become increasingly meaningless in a globalised economy particularly due to transfer pricing. Do we really believe for instance that Luxembourg is a major exporter of coffee or Ireland is the world's biggest producer of software. |