The Dollar’s Decline: Taking Responsibility for the Future
July 11, 2008
Menzie Chinn submits:
As of 2008Q1, wholly 100% of the increase in the trade deficit since 2001Q4 is accounted for (in a mechanical sense) by the increase in the value of oil imports. And the dollar share of reserves appears to continue its decline.
To the first fact:
The Dollar’s Decline: Taking Responsibility for the Future
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