Economic Consequences of The Iraq War

In this article David Hale looks at the economic consequences of the war in Iraq. He says that although markets will rally on positive news of the conflict, in the longer term how the US deals with large fiscal deficits and unprecedented current account deficits will determine the extent of any upswing. He also says that East Asia's central banks are likely to share the burden of financing the US trade deficit to prevent a sharp appreciation of their currencies against the dollar.


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