Although liquidity crises are short-term emergencies and macroeconomic stability is a medium-term goal, locked credit markets soon have wider economic effects.
Nordvig argues the medium-term trend may be punctuated by economic weakness in the near-term, particularly as second quarter economic indicators are released.
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Kohli: I think on the economic side over the medium to long term, APEC could be very important.
And I think this is a way of accomplishing some progress on the medium- and long-term issues without choking off the economic recovery.
Nor is a currency's strength a reliable indicator of international confidence: despite the dollar's slide, few doubt that America's economic prospects, short- and medium-term, are better than Europe's.
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Panic-inducing headlines about the European sovereign debt crisis have been mercifully rare so far this month, even if the fear remains that the continent is certain to be the source of any kind of severe economic blowup in the near-to-medium term.
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And then in El Salvador, underscoring the importance of setting in motion and working with the Salvadorans to set in motion sustainable economic development that also has medium- to long-term benefits for the United States, as the President discussed yesterday with regard to immigration.
On structural reform, the Bank agrees with some private economists that, over the medium term, government spending alone has failed to drag Japan out of the economic mire.
In the medium term, however, academic studies suggest that higher government spending leads to slower economic growth.
More generally, focus on policies that boost economic growth: trade less austerity in the short term for medium-term adjustments, such as a higher retirement age.
The President also has a plan which deals with medium- and long-term deficit and debt reduction, and laying a foundation for future economic growth.
The leaders said "strong economic fundamentals would enable Asia's impressive growth performance to continue over the medium term".
The Chinese government says it will move towards a more flexible exchange rate in the medium term, but for the moment it wants to keep the yuan stable in order to support broader economic stability.
More to the point, what would be the strategic implications if it will not happen in the near to medium term, even if American and other Western business dealings and investment might encourage political as well as economic liberalization in China over the longer term?
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