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The next President will also have to deal with the trade surplus countries.
When it comes to dealing with the big surplus countries, especially, that's not the case now.
The 1930s Depression was the result of hoarding by surplus countries.
In the 1990's, however, America could use the help of a strong international organization which imposes some pressure on surplus countries.
But the fact is that efforts to force surplus countries into line are scattered, ineffective, and just about at a dead end.
China will not write off anyone's debts - it is hooked on being a surplus country.
There wasn't much recognition of this among the world's large surplus countries, either inside or outside the euro.
Chrysler does not think solving the trade problem rests only with the surplus countries.
Of course surplus countries can run structural surpluses over long periods.
Adjustment also came to be regarded as a problem relevant to deficit and not to surplus countries.
Washington has been pressing surplus countries on several fronts.
"Among the surplus countries there are no volunteers to give up their surpluses.
Surplus countries automatically expanded their money supplies while those in deficit contracted.
America was a deficit country when President Bush left office, and now it is a surplus country.
It should pursue an aggressive trade policy and enforce strict reciprocity, particularly with the large surplus countries.
Exactly, the fallacy of describing surplus countries as somehow moral, and therefore not in need of reform.
Also, there is NO practical way for "surplus countries to suddenly boost domestic demand, especially consumption".
I agree with the possibility of calling for structural reforms in surplus countries, but most attention should be given to deficit countries.
While the two big surplus countries have made some adjustments, particularly in the growth and currency arenas, their trade surpluses are not shrinking.
Japan, West Germany and the other surplus countries have been struggling to avoid a decline in their surpluses.
Surplus countries will design their policies to strengthen domestic demand and reduce external surpluses while maintaining price stability.
In particular, surplus countries often neutralized an inflow of gold by preventing it from adding to the domestic money supply.
The surplus countries are Japan and West Germany.
It gets help from the surplus countries, which in cutting their surpluses buy more American exports and help reduce the trade deficit that way.
To a large degree, the change is optional for the surplus country, but compulsory for the deficit country.