Latin American and South East Asian countries have become more open to investment. Fred Bergsten was among the first to point out that global imbalances had begun to climb toward uncharted territory.
If foreign investors panicked and started selling U.
Most experts agreed it was unsustainable. Have you read? In the late s, Argentina and other Latin American countries defaulted on their loans.
ReinhartMinos A. The rising U. But it was global trade and finance — the key forces shaping the economic outlook and financial market conditions with which central bankers grapple — that took center stage. At around the same time, South Korea temporarily emerged as a key culprit behind the US trade deficit.
But the CBO has the last word. But it may surprise you to know who owns most of the national debt.
But the fact that it is easy does not make it a good idea.