13.9.07

Gato por lebre

Dani Rodrik formulou há dias no seu blogue a seguinte pergunta: se os americanos se queixam de os chineses venderem para o seu país brinquedos com matérias-primas tóxicas, por que é que o resto do mundo não há-de poder queixar-se de os americanos lhe venderem créditos de qualidade deficiente e, eventualmente, pedir para ser indemnizado? Ora leiam:
Suppose a large trading nation is found to export huge quantities of products which have not been subject to proper regulatory oversight at home and create important risks for the buyers. And suppose further that importing nations have had to face serious repercussions as a result. When pressure is brought on the exporter of hazardous products to tighten its act and to increase regulatory cooperation with other nations, the country scoffs and says: "this is a domestic matter; we do not need any international oversight or pressure."

No I am not talking about Chinese toys. I have in mind instead complex financial instruments sold by the U.S.--which having been improperly evaluated by U.S. rating agencies and hence mispriced, and having been marketed abroad in huge quantities, are now wreaking havoc in financial markets everywhere.
A meu ver, a questão faz todo o sentido.

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