Thursday, March 18, 2010

Chermany Unite to Weaken World Economy... Martin Wolf writes that "Chermany" - China & Germany - believe their importer customers should keep buying but stop irresponsible borrowing... "Germany is in a supposedly irrevocable currency union with some of its principal customers. It now wants them to deflate their way to prosperity in a world of chronically weak aggregate demand. Mr Wen has the same idea. But the economy he wants to pursue this goal is the US."... concludes this is not likely to work for either Germany or China... http://www.ft.com/cms/s/0/3bcc011c-3164-11df-9741-00144feabdc0.html (4*) (may need to register for free first)

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