IMF: U.S. must increase exports, currency must be revalued
IMF: U.S. must increase exports, currency must be revalued
Posted on 13 April 2011 by Michael Stumo.
From an IMF report released Monday, 4/11/11:
The report also said the United States needs to increase exports and that, in turn, depended on the willingness of other nations to let their currencies float freely.
“It has to come from exports for the United States to be able to sustain growth,” said Olivier Blanchard, one of the authors of the report. “Something needs to happen in the rest of the world, and it is not happening, or it is not happening fast enough.”
The I.M.F. warned that the world economy was growing on an unsustainable basis because developed nations were borrowing too much and developing nations were relying on exports paid for with that borrowed money, rather than taking steps to build sustainable domestic consumption.
http://www.tradereform.org/2011/04/i...t-be-revalued/
IMF: U.S. must increase exports, currency must be revalued
Posted on 13 April 2011 by Michael Stumo.
From an IMF report released Monday, 4/11/11:
The report also said the United States needs to increase exports and that, in turn, depended on the willingness of other nations to let their currencies float freely.
“It has to come from exports for the United States to be able to sustain growth,” said Olivier Blanchard, one of the authors of the report. “Something needs to happen in the rest of the world, and it is not happening, or it is not happening fast enough.”
The I.M.F. warned that the world economy was growing on an unsustainable basis because developed nations were borrowing too much and developing nations were relying on exports paid for with that borrowed money, rather than taking steps to build sustainable domestic consumption.
http://www.tradereform.org/2011/04/i...t-be-revalued/