Abstract
The most critical vulnerability of the world economy is the possibility that housing events in the United States could create a broader credit contraction. Such an event or a similar shock could erode the perceived quality of US debt, causing disorderly exit out of dollar assets.
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© 2008 Carlos M. Peláez and Carlos A. Peláez
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Peláez, C.M., Peláez, C.A. (2008). Vulnerabilities of the Global Economy. In: Peláez, C.M., Peláez, C.A. (eds) Globalization and the State: Volume II. Palgrave Macmillan, London. https://doi.org/10.1057/9780230228290_6
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DOI: https://doi.org/10.1057/9780230228290_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-30192-8
Online ISBN: 978-0-230-22829-0
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)