Dec 8, 2004

Deficit Management

"The growing external deficits of the world's "sole superpower" have put the global economy on a path that is not merely unsustainable but also dangerously so. This has been the theme of my last two columns. US and Asian policymakers seem determined to take no decisive action in response. This is understandable, but a big mistake."- The FT's Martin Wolf ($)

This ties in pretty well with the points I made last week.

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