Take the following as truth: Persistent U.S. current account deficits have translated into a rising level of indebtedness to other countries, i.e., net U.S. holdings of foreign assets (see figure 3.3).
Then the following statement: "In addition to causing indebtedness to other countries, current account deficits can translate to corruption of government officials as they lose faith in the economy." is true, false, or inconclusive?