Warum gibt es etwas und nicht nichts? (Why is there something rather than nothing?) - Leibniz
Friday, December 19, 2008
Europe is keeping China (and America) going
A very interesting piece by Brad Setser, where he shows that the EU's currency strength and growing imports from China have offset the levelling in demand from America. His bottom line is that China's making money from us and lending it to the US.