f**king USA
Out of context: Reply #107
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- lowimpakt0
"They also owe a lot of money to US and German banks. Once the WTO accessions expire they'll have to open their own markets too. The US trade deficit with China will shrink, and make the US wealthier."
Trade deficits are a fudge. The reason the EU/US economies have been so strong is through unfair trade rules that lock other coutries out of the bonanza. Now that state protectionism is being weakened and international trade is making steps towards democratisation the circle is coming round. Yes money leeching out of emerging economies makes its way back to the US/EU but it is concentrated on corporate balance sheets rather than in peoples pockets.
and the irony is that those from nations that have benefited from this trade 'scam' and who have pushed the globalisation agenda may lose out.