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The Rise of the Global Dollar System | Perry Mehrling

Hidden Forces

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Capital Markets Are There for Balance of Payments Issues

How do you prevent countries from engaging in mercantilist policies if they have their own political motivations for doing so absent some kind of international political framework? Yes, let me just maybe as a way of getting to that, underlining where Charlie would have started in this. He would have started by saying, well, we need to distinguish between money markets and capital markets first. But still, that doesn't change the fact that structural imbalances exist.

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