The Washington Post quotes CGD senior fellow Liliana Rojas-Suarez on similarities between the Japanese financial crisis and the current U.S. financial crisis.
From the article:
"The crisis now, however, is global. Though the United States exported its way to growth earlier this year, taking advantage of the weaker dollar that made U.S. products more competitive, Europe and Japan are now joining the United States in slipping toward recession.
'The situation now is completely different; the United States unlike Japan in the 1990s does not have the rest of the world to soften the blow,' said Liliana Rojas-Suarez, a senior fellow at the Center for Global Development."
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