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[Benmuse.typepad.com] Ben Muse: What should the U.S. do about the Renminbi?: ...the administration should notify its G-7 partners and the IMF that it plans to make such a designation, in the absence of major preventive action by China, with the goal of galvanizing a multilateral effort on the issue and reducing its confrontational bilateral character. The objective of that international effort, hopefully spearheaded by the IMF through its new “multilateral surveillance” initiative, should be a “Plaza II” or “Asian Plaza” agreement [in contrast to the Plaza Accord of 1985
[Econstrat.org] Comparative Advantage - From the Economic Strategy Institute ...: Some economists, like Ben Bernanke, the new chairman of the Federal Reserve, argue that the rest of the world is not consuming enough - there is a ”˜global savings glut’ that explains both the trade deficit and the conundrum of low long term interest rates in the U.S. Foreign governments thus must lead the way in reducing their excess savings rates, and only then will the imbalances begin to right themselves. Others emphasize the need for the U.S. to get its own fiscal house in order.
[Scienceblog.com] Science Blog -- CALLS FOR REFORM OF INTERNATIONAL TRADE SYSTEM ...: For those countries which were not able to benefit from FDI, official development assistance (ODA) remained an essential element in the fight against poverty and the achievement of sustainable development. Official development assistance financed much needed basic physical infrastructure and capacity- building in developing countries, especially least developed countries.
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