2 thoughts on “Fixing the world economy: the role of internal and external balance

  1. Another comprehensive piece of thought-provoking commentary. I guess perceptions of the politics are ideological. To me, it appears that China is a more cooperative actor than the USA is at the moment. As the USA is the declining hegemonic power, it seems unwilling to accept ‘fair’ trade rules. Further, its excessive military spending is matched by a somewhat belligerent and unpredictable attitude. I suppose one elephant in the room is the timing of the next recession. It is unlikely that effective international cooperation will break out before that event. The idea of balances is communicated really well in your analysis.

  2. cheepcheepcopy, you write: “The idea of balances is communicated really well in your analysis.” I couldn’t agree more. What a masterful presentation! I’m particularly grateful for it as Nick is writing about an area of economics that I find very hard to penetrate.

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