A Wall Street Strategist Explains His Trade Deficit With Costco

A Wall Street Strategist Explains His Trade Deficit With Costco

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Ang Bao

2 years
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David Kelly, Chief Global Strategist of JPMorgan Asset Management, explains why the US trade deficit with China doesn't matter. Kelly explains that he runs a trade deficit with Costco and many other retailers. What does matter is whether you run a trade deficit overall. He says the cause for the US trade deficit is the country's budget deficit. Watch the full interview:

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