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considérait qu'il était normal pour un pays pauvre, au moment de son décollage économique, d'avoir un déficit des transactions courantes, car son épargne intérieure n'est pas suffisante pour financer toutes ses dépenses d'une part, et d'autre part car il doit effectuer de nombreuses importations pour se procurer des biens d'équipement et biens intermédiaires nécessaires à son développement, qu'il n'est pas encore capable de produire lui-même.

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