U.S. living beyond means, Dodge warns

Last Updated Mon, 30 May 2005 13:11:23 EDT

CBC News

OTTAWA - Bank of Canada governor David Dodge offered a bankerly rebuke to the United States on Monday for its borrow-and-spendthrift ways, which he suggested are a threat to world economic stability.

Less directly, he chided nations such as China for rigging their currencies to boost exports while building up larger and larger foreign-exchange reserves, creating a lopsided world in which Asian savings finance U.S. spending.