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Michael Pettis, Why a trade war is likely to break out this year. Financial
Times, Jan. 27, 2010.
http://www.ft.com/cms/s/0/336ad126-0ae3-11df-8a26-00144feabdc0.html?nclick_check=1
Quote:
"Unless they [Washington and Brussels] expect Beijing willingly to engineer
a transition that causes [in China] domestic manufacturing to collapse and
unemployment to surge, the west cannot expect a quick resolution.
"China has pumped money into increased production or into economically
unviable infrastructure investment, which, since it must be paid for by
China's long-suffering consumers, will continue to inhibit consumption
growth.
My comment: The author misspelled "unviable" which should be "inviable."
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