----- Original Message ----- From: "Dennis Redmond" <dredmond at efn.org> To: <lbo-talk at lbo-talk.org> Sent: Friday, October 07, 2005 8:10 PM Subject: Re: [lbo-talk] Query: Exporting savings
> Marvin Gandall wrote:
>
>> Can someone help me out because I may not be understanding something
>> here.
>> Is it actually the case that Switzerland, Norway, and Sweden, even given
>> their own thin markets and relatively well off populations, export more
>> savings (purchase more foreign securities?) than China and other Asian
>> nations? (I assume the reference to "developing Asia" excludes Japan).
>
> If he's talking about the current account surpluses of the non-tiger
> economies (i.e. Asia minus Japan, S Korea, Taiwan, Hong Kong and
> Singapore), then he's correct. 2004's current account balances look like
> this:
>
> Norway+Sweden+Switzerland: + $96 billion
>
> Japan+Hong Kong+Singapore: + $194 billion
> South Korea+Taiwan: + $48 billion
> Rest of East Asia (incl China): + $50 billion
>
> The US current account deficit is in a galaxy all its own:
>
> USA: - $647 billion
>
> (Data: http://www.cia.gov/cia/publications/factbook/fields/2187.html)
>
> -- DRR
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