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To: Bill Harmond who wrote (135920)12/17/2001 12:23:46 AM
From: GST  Read Replies (1) | Respond to of 164685
 
Productivity is not the central issue in the current account deficit when we are importing capital to finance purchases of consumer goods and services and not just investment in productive capacity. If we saved the difference -- something like $400 billion per year -- then there would be nothing to discuss in terms of the dollar because it would all be financed in dollars. But this is not the case.


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