Final answer:
True, the United States has a large trade deficit but still holds a strong position in the global economy due to its large domestic economy and significant internal trade. The correct option is A.
Step-by-step explanation:
The statement that 'Despite its large trade deficit, The United States holds a strong position in the global economy' is True. The trade deficit of a country does not solely determine its economic strength. As documented, the United States has a substantial trade deficit, noting a current account balance of -2.6% of GDP.
However, the U.S. economy is bolstered by its large domestic economy and high volume of internal trade, which contributes to its overall strong global position. This is in contrast to countries like Germany, which have a higher export ratio and trade surplus, yet the United States maintains a dominant economic status on a global scale.