Germany Is Not China
Global imbalances in trade and capital flows clearly are at least partly to blame for what has happened to the world economy since 2008. But not all imbalances are created equal, so it is important to weigh the consequences of individual countries’ external accounts for global economic stability and prosperity.
https://prosyn.org/8XZdcbp
ROTTERDAM – There is little dispute that global imbalances in trade and capital flows are at least partly to blame for the financial crisis and ensuing recession that have rocked the world economy since 2008. But not all imbalances are created equal, so it is important to weigh the consequences of individual countries’ external accounts for global economic stability and prosperity.