Re: Doomed: Letters from Third-World Leaders
Dennis Redmond wrote:
(1) Boost internal demand and park the remainder in high-growth Chinese, Vietnamese, Korean, Russian and Eastern European markets.
They’re either not big enough or already saturated with cash.
(2) If the US dollar depreciates, other currencies appreciate. The euro is already here, and an Asian currency unit is on the way.
A dollar crisis would threaten global financial stability - it wouldn’t be a zero-sum game.
Doug