Why not apply the basic rule of economic restructuring, whereby capital and labor in sectors having low productivity are shifted to those with higher productivity? The current state of affairs that has resulted is one in which policies are carried out au contraire to the economic principles of restructuring, as the world’s capital is now concentrated in its least productive areas.
In the past as well, the premise of economic recovery was that a certain region of the world had to be growing. There is no doubt, for example, that during the Asian currency crisis U.S. and European economic growth contributed to the Asian economies’ recoveries from it.