From Global Imbalances to Effective Global Governance
The current credit crisis has led to scaled-back projections for growth around the world. It has also exposed the severe mismatch between our vulnerability to global imbalances of the type that fueled the crisis and our ability to coordinate policies internationally to ensure that such imbalances are addressed before it is too late.
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STANFORD, CALIFORNIA – The current credit crisis has led to scaled-back projections for growth around the world. Governments and central banks are responding to damaged balance sheets and credit lockups in an attempt to limit extreme harm to their economies outside the financial sector.