> > > Ther appears to be considerable disagreement over the stability of a > Bretton Woods-2 system. It is true that in the short-term it is in > China's interests to continue financing US deficits. This is likely to > continue until demand growth elsewhere increases to keep the Chinese > industrial capacity fully utilized. Unfortunately it is not clear > where such demand growth will come from. Clearly it is Japan.
Sorry I meant to say "Clearly it is NOT Japan." :) --raghu. China > and India are unlikely to transition into an unbridled consumerist > culture for at least a generation. > > There was a survey paper from the NYU professor Nouriel Roubini on this issue. >
