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Glimmers of a Post Bretton Woods II World
at 2006-07-09 19:42:58
Asian economists and central bankers do not get as much coverage in the American press as they deserve. For all the hand wringing over the implications of America’s twin current account and trade deficits, perhaps the fundamental point to be made is that when it comes time for an adjustment, the decisions as to the scope, speed and magnitude of the adjustment will come from Asia, not the US.
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