Charting the Course of the Global Economy
Real Vision: Finance & Investing
00:00
The Pursuit Economy Perspective on Globalization
In the 1970s, it wasn't feasible to export work or manufacture goods in Southeast Asia. In 1980s, starting literally 1980 that year, all these countries start removing their capital controls this and that. I would argue that we should embrace globalization because that's basically natural market forces. And as I described in chapter nine of this book, US have paid so little attention to exchange rates, and allow the dollar to be determined mostly by capital flows.
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