French growth is driven by consumer spending (coming both from wage increases and more debt), which drives up (slightly) the trade deficit, and this is worrisome, a sign of loss of competitiveness.

US growth is driven by consumer spending (coming exclusively from icnreased debt), which drives up (massively) the trade deficit, and this is great, a sign of dynamism.

Can someone explain?

In the long run, we're all dead. John Maynard Keynes