A Global Growth Bargain
Asia's growth confronts the West with unprecedented challenges and opportunities. In order to meet the former and seize the latter, the West needs a global agreement that would raise public investment in Europe and the US while committing China to a significant increase in consumption.
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LONDON – US President Barack Obama caught the imagination of the world when he talked recently of a new “Sputnik moment.” He outlined a bold plan for improving education, infrastructure, and technology, and vividly compared the resolve required to put a man on the moon to the determination needed to restore growth to the US economy.