"In other words, our assets abroad must be worth a lot more than “the books” would indicate, because there aren’t many other ways to explain why we are earning (net) $30 billion today on foreign direct investment, instead of paying out (net) $210 billion that the “books” would suggest should be the case. For a good illustration of that key point, read the Euro Disney example in the paper.Interesting thesis.
We’re running a trade surplus"
Monday, August 07, 2006
USA running a trade surplus?
The Skeptical Optimist:
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