Ito, Hiro - In: Journal of Asian Economics 20 (2009) 3, pp. 294-313
This paper examines two U.S. current account deficit episodes, one in the 1980s and the other in the current 2000s, in which Japan and China, respectively, are the current account surplus countries that are criticized for contributing to the deficits. In both periods, U.S. policy makers pointed...