Monday, August 23, 2010

Trade War 101

To gainfully utilize labor, 
Export nations play "Beggar Thy Neighbor;" 
While the deficit spenders, 
Resenting their lenders, 
May rattle the trade-tariff saber.  

Thanks to Prof. Michael Pettis of Peking University (no, that's not a typo) for his timely comment in the FT.

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