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I was quite ready to accept certain restrictions on the United States. After all, there was a great dollar shortage. It was quite clear that the more prosperous Europe became, the more business there would be in the United States.
W. Averell Harriman
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But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.
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