THROWING BRICs
The US has run up massive deficits in recent years and concerns that its creditors would stop funding them were dismissed by the argument that China, Japan and the others needed US markets to keep their export-dependent economies growing and to create jobs.
It was mutual economic dependency that kept global savings flowing to the US. And with the US deficits rising to gargantuan levels, the US needs even greater funding from these creditor nations.
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