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Distributional Effects of International Trade : Misconceptions about Losses and Gains

Distributional Effects of International Trade : Misconceptions about Losses and Gains
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Detailed text transcripts for TV channel - MSNBC - 20121229:14:09:00

When you look at the country countries like spain and italy i m talking about the labor market adjustments. they have seen 20%. that s a problem. i m sorry. i didn t hear what did you say? spain, italy, unemployment around 15, 20%. of course they do. juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i m not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of ....

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