1/5
As the relationship between Washington and Beijing continues to deteriorate (and unfortunately, as I’ve long argued, given global imbalances and trends it is likely to get worse before it gets better), the irony here is that in a world of weak...
scmp.com/knowledge/us-c…
As the relationship between Washington and Beijing continues to deteriorate (and unfortunately, as I’ve long argued, given global imbalances and trends it is likely to get worse before it gets better), the irony here is that in a world of weak...
scmp.com/knowledge/us-c…
2/5
demand, any aid or support either provides to Africa and Latin America actually benefits their own economies, especially to the extent that they ensure the aid is spent domestically, rather than “saved” abroad in the form of corruption.
demand, any aid or support either provides to Africa and Latin America actually benefits their own economies, especially to the extent that they ensure the aid is spent domestically, rather than “saved” abroad in the form of corruption.
3/5
This is because any aid that is spent to improve productivity or welfare must ultimately be spent directly or indirectly on imports. This is just an accounting identity, and the same identity tells us that these imports directly or indirectly will increase exports in the...
This is because any aid that is spent to improve productivity or welfare must ultimately be spent directly or indirectly on imports. This is just an accounting identity, and the same identity tells us that these imports directly or indirectly will increase exports in the...
4/5
country that provides the aid – the balance of payments must balance after all. To the extent that real demand is weak, more exports from the US or China will most likely be the result of more domestic production, and not a diversion from domestic use.
country that provides the aid – the balance of payments must balance after all. To the extent that real demand is weak, more exports from the US or China will most likely be the result of more domestic production, and not a diversion from domestic use.
5/5
They say there are no free lunches, but if done well this can be pretty close. By the way, Marriner Eccles made the same point in the 1930s.
They say there are no free lunches, but if done well this can be pretty close. By the way, Marriner Eccles made the same point in the 1930s.
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