Econ 479

The Art of Writing, the Science of Economics

China and the United States: The Dysfunctional Duo

A clear-eyed view of the current crisis:

At the center of the global meltdown, then, is the misshapen economic codependency of the United States and China. Each has followed a fundamentally unstable economic model, with one nation suppressing wages so that it could export more and the other living on borrowed funds so that it could purchase more. Despite the sharply different roles that each nation carved for itself, though, a shared characteristic allowed them to chart their ultimately disastrous course….

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Written by gregorymcnamee

February 18, 2009 at 3:17 pm

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