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Issue:

Business

 

Written by:

Timothy P

 

Date added:

January 20, 2015

 

Level:

 

Grade:

A

 

No of pages / words:

3 / 631

 

Was viewed:

1499 times

 

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Essay content:

The current account deficit reached $225 billion in the fourth quarter of 2005, up from $185.4 billion in the third. For the year 2005 the deficit was $805 billion, equivalent to 6.4 percent of gross domestic product. The latest figures show that rather than being closed, the payments gap is widening...
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This was the seventh year out of the last eight in which the deficit hit a new record. "The bottom line is that a current account deficit of this unparalleled magnitude is unsustainable and there is no hope of it being painlessly resolved through higher exports alone," Paul Ashworth, an analyst at Capital Economic told the Financial Times...
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