The world's major economic players are getting together next week for the G20 summit, and boy, does that sound like fun. China has been calling for a new world currency. The European Union president labeled the Obama stimulus plan "a way to hell."

David sends over James Surowiecki's take on the latter, in this week's New Yorker. Surowiecki writes:

[I]n effect, Europe is refusing to carry its share of the global economic burden and is piggybacking on us. But it's hard to see how things could have turned out otherwise. The U.S. economy, much more than Europe's, is like the proverbial shark: if it doesn't keep moving forward, it dies (or at least creates a lot of misery). In some sense, we need economic growth more than Europe does. It's not surprising that we're going to be the ones who end up paying for it.

categories: Recommended Reading

3:35 - March 26, 2009

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