Asia Said to Be Leading the Globe Out of Crisis

            N.Y.Times Oct 19, 09 reports that Chairman Bernanke said that Asian nations are bouncing back faster then the rest of the world. Presumably that included the U.S.  “We were smug,” Mr. Bernanke said about China’s running huge trade surpluses. The question is could the U.S. possibly match the imports with exports.  Not likely or it would have happened. Even with the dollar declining for the past decade U.S. exports are meager.

            China grew at the rate of 10% in the 2^nd Qtr.  Bernanke said that Asian countries needed to rely less on exports and more on their consumption at home for their economic growth. He may get his wish if the dollar continues to decline.