[lbo-talk] Doomed: Letters from Third-World Leaders

Doug Henwood dhenwood at panix.com
Tue May 16 13:55:49 PDT 2006


Dennis Redmond wrote:


>(1) Boost internal demand and park the remainder in high-growth Chinese,
>Vietnamese, Korean, Russian and Eastern European markets.

They're either not big enough or already saturated with cash.


>(2) If the US dollar depreciates, other currencies appreciate. The euro is
>already here, and an Asian currency unit is on the way.

A dollar crisis would threaten global financial stability - it wouldn't be a zero-sum game.

Doug



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