"Trade and financial openness are not good for their own sake – contribute to inequality – may undermine, growth of GDP and productivity. Intrusion into domestic regulation, increased power for capital (investors) carry further dangers. Individual relatively open economies can gain advantage by suppressing wages and tapping international demand (exports). IMF research: higher levels of inequality build up unsustainable household debt levels leading to financial crisis. Increase current account deficits and thus international debt."
Posted on: Fri, 05 Jul 2013 12:08:13 +0000
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