The Monopoly of Global Capital Flows: Who needs structural adjustment now? Terry McKinley

The fact that the U.S. economy is monopolizing global net savings from rich and poor countries alike, results in global imbalances which are neither sustainable nor equitable since capital should be recycled to poorer countries, so that they are allowed to pursue more expansionary, growth-oriented economic policies. The rich countries need a major restructuring their expenditures while the U.S. must contain private consumption, especially real estate spending, in favor of productive private investment, and boost exports relative to imports.

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