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Home > US Current Account Deficit being financed by Capital Flight from Poor Countries

Contributor [1]
Thursday, March 7, 2002 - 02:00
Categories: 
Development [2]
Issue Number: 
56 [3]
Article-Summary: 

Respected Financial Times Journalist Martin Wolf has admitted that economists 'do not know' who is funding the United States colossal $392bn current account deficit. In his assessment, one of the most likely sources of unrecorded funding for this deficit is capital flight from poor countries. In other words, precious resources from poor countries are being used to finance the bloated consumerist habits of the world's richest people.

Category: 
Governance [4]
Oldurl: 
http://www.pambazuka.org/en/category.php/development/6289 [5]

Source URL: https://www.pambazuka.org/node/8483

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[5] http://www.pambazuka.org/en/category.php/development/6289