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G20 Talks: Damned If You Do...

September 22, 2009 RSS Feed Print

The FT reports how expectations are low for the G20's meeting this Friday on ways to achieve more "balanced" global growth:

British officials warned that unless more balanced growth could be achieved, the global community would have to accept either lower growth or a retreat to protectionism, as every country tried to create a trade surplus.

[emphasis mine]

So you can have either lower growth or... protectionism, which almost always means lower growth. What'll it be?

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that America is going to somehow create a "trade surplus"---given our continuing multi-decade history of trade deficits. But one does wonder how long other nations will finance them.

Muser of NM 8:22PM September 22, 2009

G20 Talks: Damned If You Do...

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