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	<title>Comments on: Global trade is shrinking, fast</title>
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	<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/</link>
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		<title>By: SalElonia</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120696</link>
		<dc:creator>SalElonia</dc:creator>
		<pubDate>Sat, 20 Dec 2008 05:08:55 +0000</pubDate>
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		<description>The good resource is informative and actual</description>
		<content:encoded><![CDATA[<p>The good resource is informative and actual</p>
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		<title>By: Asia as Engine of growth&#8230;where are the Consumers? &#124; OnlineEquityCalls.com</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120337</link>
		<dc:creator>Asia as Engine of growth&#8230;where are the Consumers? &#124; OnlineEquityCalls.com</dc:creator>
		<pubDate>Tue, 16 Dec 2008 02:39:55 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120337</guid>
		<description>[...] Global Trade is shrinking fast     India Policy: Confusion Reigns&#8230;In Action &amp; WordsPotpourri of News&#8230;nothing positive2008: Capture the Year in wordsGlobal News: And the Hits just keep on comin&#8217;  Tags: Business, China, Economy, Global crisis, Global Markets, IMF, India Economy, Market Outlook, Stock News/Views [...]</description>
		<content:encoded><![CDATA[<p>[...] Global Trade is shrinking fast     India Policy: Confusion Reigns&#8230;In Action &amp; WordsPotpourri of News&#8230;nothing positive2008: Capture the Year in wordsGlobal News: And the Hits just keep on comin&#8217;  Tags: Business, China, Economy, Global crisis, Global Markets, IMF, India Economy, Market Outlook, Stock News/Views [...]</p>
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	<item>
		<title>By: Osgoodwisdom.com &#187; Blog Archive &#187; Global Trade is shrinking fast</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120193</link>
		<dc:creator>Osgoodwisdom.com &#187; Blog Archive &#187; Global Trade is shrinking fast</dc:creator>
		<pubDate>Sat, 13 Dec 2008 18:27:36 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120193</guid>
		<description>[...] http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/ [...]</description>
		<content:encoded><![CDATA[<p>[...] <a href="http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/" rel="nofollow">http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/</a> [...]</p>
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		<title>By: Market up &#171; Stocks Go Up. Stocks Go Down.</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120144</link>
		<dc:creator>Market up &#171; Stocks Go Up. Stocks Go Down.</dc:creator>
		<pubDate>Fri, 12 Dec 2008 20:59:40 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120144</guid>
		<description>[...] China exports falling off cliff. Ramen sales boom as South Korea weakens. [...]</description>
		<content:encoded><![CDATA[<p>[...] China exports falling off cliff. Ramen sales boom as South Korea weakens. [...]</p>
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		<title>By: Morning Readings: Libor, Ramen, China, etc. &#124; Venture Capital Bloggers Network</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120129</link>
		<dc:creator>Morning Readings: Libor, Ramen, China, etc. &#124; Venture Capital Bloggers Network</dc:creator>
		<pubDate>Fri, 12 Dec 2008 19:45:40 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120129</guid>
		<description>[...] Global trade is shrinking, fast (Setser) [...]</description>
		<content:encoded><![CDATA[<p>[...] Global trade is shrinking, fast (Setser) [...]</p>
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		<title>By: Americans: Be afraid. &#124; John Barrdear</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120121</link>
		<dc:creator>Americans: Be afraid. &#124; John Barrdear</dc:creator>
		<pubDate>Fri, 12 Dec 2008 17:59:38 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120121</guid>
		<description>[...] both from the left and the right, you really do have to wonder how ugly it&#8217;s going to get.  Looking at the world as a whole is a recipe for staying under the covers tomorrow morning, [...]</description>
		<content:encoded><![CDATA[<p>[...] both from the left and the right, you really do have to wonder how ugly it&#8217;s going to get.  Looking at the world as a whole is a recipe for staying under the covers tomorrow morning, [...]</p>
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		<title>By: RebelEconomist</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120078</link>
		<dc:creator>RebelEconomist</dc:creator>
		<pubDate>Fri, 12 Dec 2008 13:02:36 +0000</pubDate>
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		<description>Howard,

Unfortunately, the basic economics you cite only applies in the long run.  In the shorter term, capital flows can drive the exchange rate and through that, the current account - not all economists and textbooks have fully caught up with the development of the international capital market.

Since in China, the government restricts private sector capital flows, you cannot be sure what the &quot;unmanipulated&quot; capital flow would be.  It is possible, especially as China&#039;s own economy deteriorates, that unrestricted private capital outflows might exceed the current flow of intervention, in which case a floated renminbi might depreciate.</description>
		<content:encoded><![CDATA[<p>Howard,</p>
<p>Unfortunately, the basic economics you cite only applies in the long run.  In the shorter term, capital flows can drive the exchange rate and through that, the current account &#8211; not all economists and textbooks have fully caught up with the development of the international capital market.</p>
<p>Since in China, the government restricts private sector capital flows, you cannot be sure what the &#8220;unmanipulated&#8221; capital flow would be.  It is possible, especially as China&#8217;s own economy deteriorates, that unrestricted private capital outflows might exceed the current flow of intervention, in which case a floated renminbi might depreciate.</p>
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		<title>By: HZ</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120059</link>
		<dc:creator>HZ</dc:creator>
		<pubDate>Fri, 12 Dec 2008 04:39:16 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120059</guid>
		<description>Brad,
Thanks for the reference on the Chinese net investment position. That was very helpful.</description>
		<content:encoded><![CDATA[<p>Brad,<br />
Thanks for the reference on the Chinese net investment position. That was very helpful.</p>
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	<item>
		<title>By: Thursday morning links &#124; Commodity</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120045</link>
		<dc:creator>Thursday morning links &#124; Commodity</dc:creator>
		<pubDate>Fri, 12 Dec 2008 02:03:16 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.cfr.org/setser/?p=4164#comment-120045</guid>
		<description>[...] ridicule for UK policies - BBCChina’s Inflation Slows to Weakest Pace in 22 Months - BloombergGlobal trade is shrinking, fast - Setser, CFRAsian Automaker Stocks Gain on U.S. Bailout; Steelmakers Fall - [...]</description>
		<content:encoded><![CDATA[<p>[...] ridicule for UK policies &#8211; BBCChina’s Inflation Slows to Weakest Pace in 22 Months &#8211; BloombergGlobal trade is shrinking, fast &#8211; Setser, CFRAsian Automaker Stocks Gain on U.S. Bailout; Steelmakers Fall &#8211; [...]</p>
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		<title>By: Howard Richman</title>
		<link>http://blogs.cfr.org/setser/2008/12/10/global-trade-is-shrinking-fast/#comment-120037</link>
		<dc:creator>Howard Richman</dc:creator>
		<pubDate>Fri, 12 Dec 2008 00:06:43 +0000</pubDate>
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		<description>@Steven Govan

I took the liberty of reprinting what you wrote just above on my blog as it matches what I have been predicting and saying.

Howard Richman
www.tradeandtaxes.blogspot.com</description>
		<content:encoded><![CDATA[<p>@Steven Govan</p>
<p>I took the liberty of reprinting what you wrote just above on my blog as it matches what I have been predicting and saying.</p>
<p>Howard Richman<br />
<a href="http://www.tradeandtaxes.blogspot.com" rel="nofollow">http://www.tradeandtaxes.blogspot.com</a></p>
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