Since the mid 1970s, the united states has been the largest exporter of clothing in the world had a significant trade deficit had a significant trade surplus shifted from a flexible exchange rate system to a fixed rate

The answer is: significant trade deficit.

Up until this year, the united states' trade deficit has exceeded $ 500 Billion. This shows that since the mid 1970s, united states has spend more money in importing products compared to exporting products.

This number is extremely worrisome in the perspective of economic experts since as one of the most industrialized nation in the world, united states supposed to be able to produce higher amount of goods in lower price and win the competition in the international scale.

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explanation:

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