Passage 1
America wants Japan to meet import targets for some American goods. An unwilling Japan has decided to draw the line.
It is the persistent surplus that has provoked anger in Washington —— and Mr Clinton’s remark that “the possibility of obtaining real, even access to the Japanese market is somewhat remote”. This year the surplus has been growing fast. A Japanese economist estimates that Japan’s surplus could reach $200 billion if the yen stays at current level. With the economy still barely growing, despite two fiscal packages in the past nine months, Japan’s critics say that the country is once more exporting its way out of recession.
MITI argues 【a persistent surplus is inevitable as long as Japanese households save more than American ones, and America’s budget deficit remains】. This is a familiar point: trade balances are determined by macroeconomic factors, not by trade policy.
37.What’s the meaning of “exporting its way out of recession”?