Many analysts see the U.S. already heading back down the free-spending path.Although the piece doesn't specifically mention South Korea, the ROK has for decades relied on American markets to sell its goods and is milking its enviable position as an low-cost or affordable provider of quality goods to keep the global recession demons at arm's length.
"Europe and Germany will pursue austerity. Asians will pursue exports. We will be the only buyer," warns Clyde Prestowitz, a former trade negotiator in the Reagan administration and author of a new book, "The Betrayal of American Prosperity."
Sphere: Related Content