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What you mean in actual deficit? When you buy a car for 50k US-dollars, is this an actual deficit for you? Or did you have 50k Dollars and really needed rather a car then these 50k?
I mostly buy my stuff, because I beleave its price is fair when I buy it. So it is in balance.
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The actual deficit is the dollars the foreign country ends up holding (or the foreign currency that ends up in the U.S.) If we buy more stuff from China than they buy from us, they end up with extra dollars. They expect to be able to buy real things with those dollars at some point. That is the deficit. The things China expects to buy for the dollars they have earned.
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