Krugman on international trade

Speaking in Taiwan:

“At the time, Japan came out of its lost decade with an export boom. This depression however is global, and if the world as a whole is seen as an exporter, we would need to find another planet to trade with first,” he said at a forum at the Taipei International Convention Center. “This means we don’t know how to cure this depression.”

I think that this kind of hyperbolic commentary is an effort by Krugman to shake up his audience(in this case, Taiwan’s leadership) and get them to realize that doing the same things without any change will not result in economic improvement.

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