Why an American Recovery Matters
It is a difficult moment to be optimistic about the future of the world economy. A policy agenda in the US that is overloaded, largely domestically focused, and partially paralyzed will mean a lack of attention to global issues that require cooperation and compromise, including the international dimensions of financial reform.
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MILAN – It is hard to be optimistic about America at present. With the help of crucial government support in the crisis, the US financial sector (or at least parts of it) has bounced back, while America’s real economy struggles with high unemployment, discouraged labor-force dropouts, and damaged balance sheets.