The United States has been faced with an increasing
current account deficit since the latter half
of the 1990s. Its current account
deficit stood recently at over
6 percent of GDP.We remember
that the current account deficit
was over 3 percent of GDP in the
mid-1980s when the US dollar
was rapidly depreciated after the
Plaza Accord in September 1985.
The current account deficit of
recent years has been regarded
as being at a dangerous level
when compared with its size in
the mid-1980s..