Stockholm China Forum
Can the global economy be rebalanced - what does it mean?
Photo: National Journal
Bruce Stokes is the international economics columnist for the National Journal in Washington and a journalism fellow at the German Marshall Fund. He will be speaking on this topic at Mondays Stockholm China Forum. These are some of the highlights of his speech:
- I foresee a growing pressure on China to revalue its currency and a risk that the US will strive to maintain a weak dollar.
- Support for trade is at a low point in the US, but I do not see an alarming rise in protectionist measures. The US must concentrate on producing more for its own consumption and the administration must encourage the creation of an export culture in US industry.
- Future US trade deal will have to be guided by reciprocity and mututal benefits and Im afraid that even an ambitious outcome of the Doha Round of trade negotiations may actually worsen the US trade deficit.
