Friday, August 15, 2008

Changing balance?

Brad Setser in The changing balance of global financial power:
"To me, one of the world’s greatest ironies is that US dependence on authoritarian governments for financing has soared over the last four year. US rhetoric hasn’t matched financial reality.

Though I guess it is equally ironic that Russian purchases of Treasuries over the past few months have helped to finance the current US aid mission to Georgia."
Interesting comments too.

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