Overall, the macro policy agenda for the world economy remains the same but, with the passage of time, more urgent. For the recovery to be sustained, advanced economies must achieve fi scal consolidation. To do this and to maintain growth, they need to rely more on external demand. Symmetrically, emerging market economies must rely less on external demand and more on domestic demand. Appreciation of emerging market economies’ currencies relative to those of advanced economies is an important key to this global adjustment. Th e need for careful design at the national level and coordination at the global level may be as important today as at the peak of the crisis two years ago
1 comentario:
Y va a ganar Bernanke. QE2 fue un mecanismo para forzar a China a apreciar su moneda, o sufrir las consequencias (alta inflacion). Parece que China va a tener que revaluar el Yuan contra el Dolar. China Blinked.
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