Trade surpluses and deficits returning to normal for Japan and America?

Well it looks like things are getting back to normal. Japan is running a big surplus:

Japan current account surplus soars 77pc as world demand boosts exports

JAPAN'S current account surplus grew for the fourth straight month in November, the Ministry of Finance said today, rising by nearly 77 per cent in November.

Demand from Asia and elsewhere overseas continued to support Japan's export-led economic recovery, the government figures showed.

Analysts said the current account, the broadest measure of Japan's trade with the rest of the world, would likely keep expanding with recovering demand for Japanese goods worldwide, though yen strength could continue to drag on exports and overseas income.

The current account surplus rose 76.9 per cent in November to Y1.103 trillion ($12.9 billion) before seasonal adjustment, compared to November 2008, according to the MOF.

Meanwhile, America's trade deficit is going back up ...

Yup. Same old, same old.