Suggested Use for Surpluses: The United States...
From Times Staff and Wire Reports
Suggested Use for Surpluses: The United States should stop prodding Japan and West Germany to cut their trade and balance-of-payments surpluses and instead urge them to “recycle” the money to Eastern Europe and Latin America, several former economic policy-makers said in San Francisco. The group, speaking at the International Monetary Conference sponsored by the American Bankers Assn., said so-called global imbalances no longer are as worrisome as once thought. In fact, they said, the imbalances may prove crucial to financing new investment needed in both regions.
