In the last 50 years, globalization, shifting demographic patterns, and technological innovation have redefined labor. Will advanced countries adapt to competition with lower-paid, less protected workers in developing countries, or face chronic unemployment? Will developing-country workers demand better conditions and higher pay?
Will the World Keep Buying US Treasuries?
Paola Subacchi & Paul van den Noord
foresee a gradual reduction in countries’ holdings of dollar-denominated debt, not a rapid sell-off.
