Trade Surplus | Britannica

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balance of trade

• In balance of trade

  …balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavorable balance of trade, or a trade deficit, exists. According to the economic theory of mercantilism, which prevailed in Europe from the 16th to the 18th century, a favorable balance of trade was a necessary means…

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Japanese economy

• In Japan: Economic change

  Mounting Japanese trade surpluses increased friction between Japan and its trading partners in Europe and the United States. Japan’s critics charged that the country advocated free trade abroad but maintained a closed market at home, engaged in “adversarial trade” designed to benefit only Japan, and pushed trade…

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