China: Can Smoot-Hawley Only Happen in the US?
February 26, 2009 at 12:54 PM EST
Yesterday in a meeting I was asked by an investor why, even while I have been writing maniacally about the crucial importance of global cooperation, I was so consistently pessimistic about the possibility of the major economies arriving at a “grand bargain” that will minimize over the long term the cost of the current crisis. [...]