Attorney, Mediator & Arbitrator at A.B. Goodman Law Firm
Avery B. Goodman is licensed attorney and has concentrated on securities law related cases. He holds a B.A. from Emory University, where he concentrated on history and economics. He also holds a Juris Doctorate degree from the University of California at Los Angeles Law School and is a member of ...more



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Language Trumps Money
4 years ago

"So why do the English-speaking countries have persistent CA deficits? I suspect it has something to do with the fact that English-speaking places are an attractive location for immigration and investment. Immigrants to Australia who take out a mortgage and buy a house are contributing to their current account deficit. Chinese buyers who invest in homes in LA or Vancouver tend to create deficits for the US and Canada." I'm not sure if you just didn't communicate the point you were trying to make very well, or if you don't know what you are talking about. Your reasoning makes no sense. If a rich Chinese wants to buy a house in Vancouver, he must convert Hong Kong dollars or Chinese yuan to Canadian dollars. Similarly, to buy Canadian stocks, the foreign investor must also convert his own currency to CA dollars. In both instances, the current account deficit for Canada DECREASES. It most certainly does not increase.

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