US trade deficit with China caused by national economy issues not by BRICS — economist – Business & Economy

MOSCOW, September 9. /TASS/. The US trade deficit with China and a number of other countries is caused by issues in the American economy, other countries are not to blame, Chief Economist at the Stolypin Institute for Economic Growth Boris Kopeikin told TASS.

He was commenting on criticism of BRICS by Peter Navarro, senior adviser to the US President on trade. In an interview with Real America’s Voice on Monday, the US official said that the BRICS members cannot exist without trade with the US and “when they sell to the US their exports they are like vampires sucking our blood dry” with what he claims are “unfair trade practices.”

“The large US trade deficit with China and a number of other countries and the growing national debt are a consequence of the declining competitiveness of a number of sectors of the American economy, not the policies of other countries,” Kopeikin said.

According to him, the American market is extremely important for China, India and Brazil. “Some supplies from the US are also critical, such as aircraft, but at the same time supplies from other countries, including the BRICS countries, are also critical for the American consumer market and for production chains involving American companies,” Kopeikin noted.

“It was not for nothing that the US ended its trade war with China ahead of schedule. International trade is mutually beneficial,” the economist concluded.

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