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Fed's Greenspan on globalization and innovation

In a speech on 'Globalization and innovation' given on 6 May, Fed Chairman Alan Greenspan said continued globalization and innovation are helping reduce the dangers of a disruptive correction of the U.S. international trade imbalance.

"We may not be able to usefully determine at what point foreign accumulation of net claims on the United States will slow or even reverse, but is evident that the greater the degree of international flexibility, the less the risk of crisis," Greenspan said in

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