Stanley Fischer on the new economic powers
The governor of the Bank of Israel, Stanley Fischer, discusses the political and economic implications of the rise of Asian economies.
In his speech at the annual Jackson Hole symposium, Fischer suggests that the world economic system is surprisingly resilient. He says: "It is easy to describe crisis scenarios, particularly with regard to the unwinding of the US current account deficit - and many delight and profit from doing so. But overall it seems that the international economy and its market
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