U.S. once again cast as world's consumer of last resort
As Europe cuts spending and China ramps up exports, the U.S. is being looked to by trade partners to once again consume. But with U.S. unemployment high and incomes flat, that may spell fresh trouble.
June 19, 2010|By Don Lee, Los Angeles Times
Reporting from Washington ? As Europe cuts spending and China again floods the globe with low-cost goods, Americans are once more being cast as the world's consumers of last resort.
With U.S. unemployment still near 10% and workers' incomes largely flat, that may be a prescription for fresh trouble.
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