Friday, March 09, 2012

The definition of "duh"

From the WSJ's MarketWatch:

Latin America must take steps to defend itself from a growing reliance on commodities and China, while currency appreciation is warranted given the economic improvements relative to developed markets, the Institute of International Finance said on Thursday.

At least this seems to get more mention than it used to. It's important to note, however, that there is no "growing" reliance on commodities--although the specific commodities may change, it is long-standing and in some cases dates back to the colonial era.


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