NewsFlash: What the U.S. Can Learn From Argentina (Media Briefing)
Peso Devaluation Led to Higher GDP, Low Unemployment
Eliminating Foreign Debt Insulates Against Economic Crisis: Should the U.S. Do the Same?
Despite a recent upswing in the overall economy, the United States still has a lot to worry about: a huge trade deficit, tepid job growth, soaring imports and flat exports, outsourcing, and a weakening manufacturing sector, among other things. U.S. policies that defend a high-valued dollar have contributed to some of this gloomy picture. Meanwhile Argentina, suffering a grave crisis in 2002, devalued its peso and as a result now sees soaring exports and GDP, along with a 10-percent drop in unemployment. Can lowering the dollar give the United States such improved economic fortunes?
On Wednesday, June 21, at 11:00 a.m., there will be a briefing organized by the Global Policy Network and the Economic Policy Institute. Argentine economist Pepe Robles will discuss how peso devaluation has led to such turnarounds, and how eliminating the foreign debt has become an inoculation against regional and global economic crises. International economics expert Jeff Faux will discuss the impact of a high dollar on U.S. economy, trade and jobs, and how a change in dollar value may improve the U.S. outlook.
What the U.S. Can Learn From Argentina – Media Briefing
Wednesday, June 21, 11:00 a.m. (ET)
Pepe Robles, Research Director of the World of Work Institute (Buenos Aires)
Jeff Faux, Distinguished Fellow of the Economic Policy Institute and author of The Global Class War
The Wellstone Room of the Economic Policy Institute
1333 H St., NW, Suite 300, East Tower, Washington, DC
To reserve a space at the briefing, email EPI at firstname.lastname@example.org, or call 202-775-8810 by 10:00 AM (ET), Wednesday, June 21
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