Article;
http://www.nytimes.com/2011/05/15/magazine/paul-krugman-how-the-financial-crisis-was-wasted.html?_r=1
Comment;
"We live in an inter-dependent world" (although have already said in the write). It is not only about consumption and jobs. Actually the point is that we are using our foreign currency reserves, made up of US dollars. And, at this juncture when every body has embraced the dollar as their reserve currency the US and Europe can not shut a blind eye to the outer world. We have US dollars and that is depreciating and broadening our deficit in balance of payments. A way out of the situation is to end foreign trade in the US dollar and start demanding the currency of the nation we are demanding products of.
http://www.nytimes.com/2011/05/15/magazine/paul-krugman-how-the-financial-crisis-was-wasted.html?_r=1
Comment;
"We live in an inter-dependent world" (although have already said in the write). It is not only about consumption and jobs. Actually the point is that we are using our foreign currency reserves, made up of US dollars. And, at this juncture when every body has embraced the dollar as their reserve currency the US and Europe can not shut a blind eye to the outer world. We have US dollars and that is depreciating and broadening our deficit in balance of payments. A way out of the situation is to end foreign trade in the US dollar and start demanding the currency of the nation we are demanding products of.
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