Outlook for the World Economy: A Latin American Viewpoint
1987 ◽
Vol 29
(4)
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pp. 125-146
Keyword(s):
The Past
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The Term Which best sums up the current international economic situation is the word “crisis.” This crisis exists not only in the economies of the South, harassed over the past five years by external debt and the adjustment measures which it has spawned, but also in the economies of the North, often saddled with substantial deficits.Surrounding the state of crisis is a general sense of confusion as to the proper direction to take to deal with this crisis. The future appears opaque, which renders the choice of remedies even more difficult than would normally be the case under better circumstances.