Timmy ElsewhereMay 23, 2008 Tim WorstallTimmy Elsewhere2 CommentsThe GI. No, bilateral trade deficits don\’t matter. previousTimmy ElsewherenextThe Ultimate Entrepreneur Club 2 thoughts on “Timmy Elsewhere” Stephen May 23, 2008 at 4:22 pm Seems to be a psychological issue, something like pride. Because all our neighbours also buy from Tesco instead of growing it themselves, we don’t worry about it as individuals. But because countries are supposed to be equal in some sense, if the foreigners don’t want our stuff, it makes us feel bad, and if we want their stuff, we feel worse. Bilateral stats are just a way of keeping track of how good or bad we should feel with respect to any particular country. Martin May 23, 2008 at 7:54 pm “stats are just a way of keeping track of how good or bad we should feel with respect to any particular country.” Hmmm…not so sure… Hard anything about whether or not China’s been affected by the credit crunch? No, neither have I. Shoot! That would be because they hold all the credit, which they’ve built up on the back of their trade surplus! Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.