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Mitch Friend
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I think we are seeing the lagged effect of the developing world's export of goods and savings to the developed world. The developed world took on debt as a result and now they have reached saturation and have stagnated. I would be concerned that the developing countries will be hurt soon by a lack of demand for their products and savings
Commented Jul 22, 2011 on The great divergence, the other way around at Dani Rodrik's weblog
The great divergence, the other way around
As rich economies' prospects dim under their crushing debt burdens and political paralyses, the world's hope for economic dynamism rests with developing nations. These countries had an exceptionally good decade before the global financial crisis struck. And most among them have recovered quickly...
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Jul 22, 2011
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