“Short-sighted reforms like central-bank liquidity injections or austerity measures won’t rid the world of its economic ills and are actually endangering global economic recovery, says Mohamed El-Erian, CEO at Pimco, which runs the world’s largest bond fund.
More sweeping global economic overhaul is needed that includes greater input from emerging-market countries if developed countries want to see better days.
Otherwise, unpleasant surprises will continue, such as the U.K.’s return to recession or disappointing manufacturing data in the U.S….”
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Greater input from emerging-market countries if developed countries are to see better days? Is he calling for a return to colonialism?
not funny…besides economics and democratization are the new form of colonialism…think IMF
So you can’t help them or you create dependance, which is a form of dominance.
That’s happy horseshit caused by divisive left wing historic revisionists…
The fact is, every one — no matter how simple, has something to trade. In the case of less developed countries, it may be cheap labor and raw materials. If the rule of law is in place, and competitive trade allowed, in return they receive capital and know-how.
This is turn helps them develop their economies from Third World “production” to First World “consumption” status, and brings up the standard of living of their populace.
This is a GOOD thing, and not fucking “colonialism” or “imperialism” or any other Marxist code-word exploitation grievance theme. Lack of trade, lack of free markets, lack of mobility is enslavement and serfdom, and all the other noxious terms the feudalists (“I got mine, but you can remain a savage”) love to spout about.
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