The Economic and Foreign Policies of the New U.S. Administration and Congress
Author
C. Fred Bergsten
Date
2000-11-10
Views
3599
C.F.Bergsten_The_Economic_and_Foreign_Policies_of_the_New_US_Administration_and_Congress
The Economic and Foreign Policies of the New U.S. Administration and Congress
- Speaker: C. Fred Bergsten, Director, Institute for International Economics
- Date : November 10, 2000
"The likely method through which the US current account unsustainability will be corrected is through a sharp fall in the exchange rate of the dollar. There is no other way for the external deficit to be corrected, except for a massive US recession or worse. I do not think the US has to eliminate its current account deficit, only roughly cut it in half from about 4% of GDP to 2% of GDP...”
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