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Fred Bergsten page ix
DISTORTIONS IN INTERNATIONAL PAYMENTS page
THE IMPACT OF POLICY MEASURES page
$50 billion abroad adjustment program approximately average balance of payments base baseline projections basis billion by 1992 Canada consumption current account balance current account deficit current account surplus decline direct investment dollar depreciation dollar price domestic demand EAG model East Asian NICs equations estimated European Monetary System exchange rate change export prices external accounts external adjustment external balance external deficit Feasible Adjustment Package fiscal adjustment fiscal deficit Fred Bergsten Germany and Japan growth rates HHC and EAG HHC model high-surplus countries imbalances income elasticity increase inflation interest rates intermediate countries intermediate industrial countries International Economics Italy John Williamson Korea-Singapore-Hong Kong monetary nominal nonagricultural nonfactor services OPEC percent annually percent of exports percent of GNP percentage point real depreciation real exchange rate real terms real trade balance reduction relative Rest of World rise Taiwan target trade and current trade deficit trade-weighted United Kingdom variable volume World Economy