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economistsview.typepad.com - 5/25/2009
Global Imbalances and Future Crises
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I've been trying to figure out how much danger there is of a sudden unwinding of global imbalances that could extend and potentially deepen the recession. I've been worried there is a chance this could happen, but Barry Eichengreen explains that there are "two hopes for avoiding this ...

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Lawrance G. Lux:  Proper Language (Not Cussing)

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Proper Language (Not Cussing)
Lawrance G. Lux — ... Mark Thoma gives Us a Contribution from Barry Eichengreen. It comes with a good presentation of the Issues, but with a sparsity of definition of potential Solutions. The Chinese are unlikely to alter their Savings ratios, under the impress of current economic conditions there; unemployed industrial labor are returning to the land in Record numbers, as they can no longer afford simple subsistence in the Cities. Their Wages levels are still far too low for the majority of Chinese labor to accomplish both Consumption and Savings, with the horrors of Unemployment still too vivid to ...

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