Will US Recovery Go Global?
Robert Samuelson, The Washington Post | August 17, 2009
Despite the current economic improvement in the US, global prospects still leave room for scepticism. ++ “The world can no longer rely [on] growth [for] free-spending Americans, because the US needs export-led growth.” ++ Developing countries could replace America globally, if they increased domestic spending and imports. ++ Worldwide trade imbalances are rooted in Asian states' high saving rates. ++ These countries, especially China “must graduate from export-led growth” in order to gain a “new basis for mutually beneficial growth.”
