"America's economy is the healthiest in a generation and the strongest in the world." So Bill Clinton bragged to his fellow summit leaders when they last met in North America five years ago. The Denver G8 summit marked a high point of American triumphalism, with European and Japanese leaders left to squirm uncomfortably in their cowboy hats as their exuberant host extolled the wonders of America's new economy. For the first time in a quarter-century, they were told, the world had an undisputed model for economic success.
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