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Taxing capital inflows is a far better way to balance trade than imposing tariffs.This would address the root causes of trade imbalances, improve the productive investment process, and shift most of the adjustment costs onto banks and speculators.

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SHOPPING SUPER MALL an analyst at the retail consultancy GlobalData said the Westfield takeover would enable Unibail to benefit from expected growth of 7.2% in the UK super-mall market over the next five years to £12.3bn.

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The company is a major participant in the Home Affordable Refinance Program (HARP), the government program created in 2009 to assist underwater homeowners in refinancing their mortgages. PennyMac also buys loans from banks and other lenders, using its industry expertise to help customers restructure their mortgages so they can stay in their homes.

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