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  • Card 6 / 8:
    How did large trade deficits hurt the East Asian countries in the mid 1980’s? (Recall that trade deficits are equivalent to inflows of financial capital from abroad.)

    Foreign investors worried about repayment so they began to pull money out of these countries. The money can be pulled out of stock and bond markets, real estate, and banks.

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Source:  OpenStax, Macroeconomics. OpenStax CNX. Jun 16, 2014 Download for free at http://legacy.cnx.org/content/col11626/1.10
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