Closing the gap

The Economist points to some intriguing OECD modeling of options for closing America’s $145bn (5% of GDP) current account deficit. bq. America must beggar its neighbours with a competitive devaluation of the dollar, or beggar itself with a massive fiscal contraction—or both (“Economist”:http://www.economist.com/agenda/displayStory.cfm?story_id=2784281)

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