nthposition online magazine

Philip S Golub

Philip is a lecturer at the Institute of European Studies, University of Paris VIII - Saint-Denis.

The US: The world’s deepest debtor

[ politics | opinion - december 03 ]

"In the longer run, Asia will divest itself of some dollars and the US will have to pay increasingly punitive premiums to attract foreign investment. Higher interest rates will curb US economic activity and have deflationary global repercussions by increasing the debt service load of developing countries."