Poor funding of rich seen as unsustainable, risky

[tanyev]

And now, from the Department of the Bleeding Obvious....

DAVOS, Switzerland (Reuters) — Massive flows of capital from the emerging to the developed world are unsustainable and risk damaging both poor and rich countries, some of the world's top finance officials said on Saturday.

Speaking at the World Economic Forum in Davos, European Central Bank President Jean-Claude Trichet said that the current global investment pattern was "profoundly abnormal" and in no country's interest.

"It is not sustainable in the long run that the emerging world would finance the industrial world. It doesn't correspond to the interest of the emerging world, neither to the interest of the industrialised world," he said.
http://www.usatoday.com/news/world/2006-01-28-davos-rdp_x.htm?csp=24

[bemildred]

1. It's been going on 500 years now.

And it does damage everybody except the wealthy recipients of the "profits".