Global commerce has dramatically changed in the last fifteen years. The opening of new markets, growing competition, and the struggle for attracting the world’s brightest minds are all responsible for such a change. On the basis of substantial evidence from Germany and Austria, Dalia Marin shows the two manners in which companies in Europe have reacted to this development:
Restructuring of
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The March 2007 Bruegel Policy Brief reveals that imbalances in global current account positions are not sustainable and need adjustment. A 15% depreciation of the dollar and an appreciation of Asian currencies is needed in order to:
- reduce the US current account deficit,
- faciliate China’s focus on domestic demand and reduce its accumulation of foreign exchange reserves, and
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