how do countries end up with a trade deficit
Balance of trade If a country exports a greater value than it imports, it has a trade surplus or positive balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative balance. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists.[2][3][4][5][6]
Effects of the Great Recession The crisis affected all countries in some ways, but certain countries were vastly affected more than others. By measuring currency devaluation, equity market decline, and the rise in sovereign bond spreads, a picture of financial devastation emerges. Since these three indicators show financial weakness, taken together, they capture the impact of the crisis.[53] The Carnegie Endowment for International Peace reports in its International Economics Bulletin that Ukraine, as well as Argentina and Jamaica, are the countries most deeply affected by the crisis.[53] Other severely affected countries are Ireland, Russia, Mexico, Hungary, the Baltic states, United States and United Kingdom. By contrast, China, Japan, Brazil, India, Iran, Peru and Australia are "among the least affected."[53]