Lee Hsien Loong of summit venue says trade deficit has two sidesThe reason why the United States is running an overall trade deficit is not mainly because of other nations' restrictions, Singapore Prime Minister Lee Hsien Loong said on Monday. In the interview with CNN, the Singaporean leader countered Trump's arguments about the US trade deficit with China. Lee said China's economy has grown exponentially compared with 2001 when it joined the World Trade Organization. On Sunday during the Shanghai Cooperation Organization Summit in Qingdao, a coastal city in Shandong province, President Xi Jinping extolled free trade and criticized "selfish, short-sighted" policies. "We must maintain the rules of the World Trade Organization, support the multilateral trade system and build an open global economy."