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Article: A lesson on mutual dependence
- Article from:
- THE JOURNAL RECORD
- Article date:
- June 22, 1998
- Author:
CopyrightCopyright 1998 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK -- The United States and European nations are now the
importers of last resort, the major marketplace in which producers in
other countries can sell their goods and try to revive their own
failed economies.
It is a situation still developing, one that in the short term
might mean lower consumer prices but which will inevitably ignite a
crescendo of complaints from domestic producers. In fact, the noise
already is being heard.
The situation demonstrates the advantages and disadvantages of a
global economy, a world marketplace of mutual dependence which many
Americans have known more in theory rather than in practical
application. A clear lesson is upcoming.
It begins with the ...