Возврат иллюзий девальвации

"Доллар - это наша валюта и ваши проблемы", - колко заметил секретарь Казначейства США незадолго до того момента, когда своим решением 30 лет назад президент Никсон перекрыл кислород Бреттонвудской системе. Острота Джона Коннолли отражала возможность - и желание - Америки экспортировать свои экономические проблемы за счёт снижения курса доллара, делая козлом отпущения страны, сопротивляющиеся данной стратегии. Президент Джордж Буш, кажется, испытывает дьявольское желание повторить проводимую Никсоном политику.

Подобно команде Никсона-Коннолли, ответом на огромный бюджетный и торговый дефицит администрация Буша избрала падение - и сильное - доллара, пытаясь отвлечь внимание от своей ответственности обвинениями в сторону Китая как источник безработицы и дефляции в США. Впрочем, сегодня эта стратегия, кажется, не более эффективна, чем при Никсоне, который таким образом достиг одного: столкнул всех в эру стагнации.

Политика Буша обречена на провал, потому что, как и в 1970-ые, корень американских экономических проблем - в самой Америке. Они не привнесены извне и не могут быть решены лишь изменением курса доллара.

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