A Requiem for Global Imbalances
The start of 2014 marks ten years since we began fretting about global imbalances, and specifically about the chronic trade and current-account imbalances of the US and China. A decade later, we can happily declare that the era of global imbalances is over.
https://prosyn.org/YpKSVuG
BERKELEY – The start of 2014 marks ten years since we began fretting about global imbalances, and specifically about the chronic trade and current-account imbalances of the United States and China. A decade later, we can happily declare that the era of global imbalances is over. So now is the time to draw the right lessons from that period.