The Economic and Foreign Policies of the New U.S. Administration and Congress

Author
C. Fred Bergsten
Date
2000-11-10
Views
3316
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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