China and the U.S. Embark on a Perilous Trip – Louis Uchitelle

From The New York Times:

The dollar may be on a healthier course for now, but that does not silence the prophets of doom who fear a collapse of the currency or some other economic crisis as Americans continue to buy far more abroad than they sell.

The question is, Are those who see catastrophe ahead Cassandras accurately foretelling the future or Chicken Littles, wrong yet again about the dangers of a falling dollar?

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