[OPE-L:8191] dollar

From: Rakesh Bhandari (rakeshb@stanford.edu)
Date: Mon Dec 16 2002 - 10:37:27 EST

This was an interesting piece. Drawing on Tim Congdon, Plender 
suggested (as I now remember) that hefty returns on US foreign 
investments provide some balance to the US current account 
deficit--the US, he suggests, enjoys substantially better returns on 
its foreign investments than do the Europeans and the Japanese.  Also 
suggested that US statistics are biased by transfer pricing which 
allow profits to be claimed in, say, Ireland. I read the hard copy; 
one has to be a subscriber to read it on the web.

    Why the dollar keeps levitating  Requires subscription
FT.com site, Dec 12, 2002
By John Plender
As Tim Congdon of Lombard Street Research points out, despite that 
$2,500bn of cumulative deficits, the US still enjoyed...

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