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The United States and the World Economy

By Leonard Silk
America and the World 1986
Article Summary and Author Biography

Forewarns of another world depression and Western political fragmentation, if the USA's twin deficits are not reduced, and reduced gently. But the USA's major trading partners and world creditors, Japan and the FRG, are unwilling to shoulder the burden of world banker. Internationally integrated monetary and fiscal policies must nevertheless overcome traditional national politics and interest-group pressures.

Leonard Silk is the economics columnist of The New York Times. Copyright © 1987 by Leonard Silk.

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