“World Economy Is Starting to Bloom, IMF Says, Projecting Strong Growth,” by Paul Blustein, Washington Post, 22 April, p. E1.
“Lower Expectations: Major Trade Deals Are Unlikely to Get Done This Year,” by Paul Blustein, WP, 23 April, p. E1.
This one just seems so intuitive. One day we hear that the IMF is predicting that the world is finally pulling out of the recession it’s been stuck in for the last 2-to-3 years, then the next day we read that the Bush Administration has had a hard time closing trade deals over the past 2-to-3 years, but that now things are looking up a bit.
Is it just me, or does this make perfect sense? In hard economic times it’s harder to get agreements on lowering trade barriers, but as things get better, those compromises get easier to make.
No wonder they call economics such a dismal science . . ..
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