The Opportunity in Seoul
If G-20 leaders can reach effective agreements on exchange rates and global imbalances at the Seoul summit, the prospects for a soft-landing for the global economy will improve greatly. If not, protectionism and trade wars will intensify, bringing us one step closer to reliving the nightmare of the 1930’s.
https://prosyn.org/HSS8lwB
SEOUL – Hubris usually gives birth to disaster. The root cause of the current global crisis was intellectual hubris in the form of the blind belief that markets would always resolve their own problems and contradictions. Thirty years after the Reagan-Thatcher revolution, the ideological pendulum has begun to swing in the opposite direction.