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I semi-snarked, so I'll do it again.

Is this cyclical effects at work?

Setser certainly presents it as so, basically we're following the same path in increasing imports from China that the US did, just later on. Sounds a lot like the delayed effect where IT investment started later in Europe and so the "productivity gains of IT" came through later than the US too.

by Metatone (metatone [a|t] gmail (dot) com) on Mon Aug 28th, 2006 at 03:34:07 PM EST

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