Dr. Robert Murphy explains why America’s chronic trade deficits trace to Nixon’s 1971 gold exit—not China—and how a popular reading of Triffin’s “dilemma” confuses the issue.
US Trade Deficits: Blame Nixon, Not China
Dr. Robert Murphy explains why America’s chronic trade deficits trace to Nixon’s 1971 gold exit—not China—and how a popular reading of Triffin’s “dilemma” confuses the issue.