‘Conduct ongoing fiscal adjustments to support domestic demand at full employment levels?’
Not quite, but moving in that direction.
They would all rather export than sell their output internally.
Pacific Rim Leaders Vow Further ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“ExtraordinaryÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ Steps on Crisis
By Shamim Adam and Bill Faries
Nov. 23- Leaders of Pacific Rim nations promised to work together on further “extraordinary” steps to combat the global economic crisis and pledged to refrain from erecting new barriers to trade and investment.
Leaders of the 21-nation Asia-Pacific Economic Cooperation group, which includes the U.S., China and Japan and accounts for half of world output, also called for improved corporate governance and backed efforts to thaw frozen credit markets.
“We have already taken urgent and extraordinary steps to stabilize our financial sectors and strengthen economic growth and promote investment and consumption,” the group said in a statement during its meeting in Lima, Peru. “We will continue to take such steps, and work closely, in a coordinated and comprehensive manner, to implement future actions.”