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In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run. ↗
We're at the crossroads. Down one road is a European centralized bureaucratic socialist welfare system in which politicians and bureaucrats define the future. Down the other road is a proud, solid, reaffirmation of American exceptionalism. ↗
