That global trade imbalances matter has been made abundantly clear by the ongoing global economic malaise. The likely path to more sustainable levels of trade deficits, however, remains far less clear. Read more
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A continuation of the sovereign debt crises of countries with large and rising trade deficits is not necessarily a fait accompli, but mitigation of the impact of these trade imbalances requires more than aggressive monetary policy alone. Read more
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That the world is grossly overindebted is perhaps an obvious point. But by how much — and why — are less clear. Today total global debt stands at approximately $150 trillion, or 194% of global gross domestic product. And according … Read more
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That the world is grossly overindebted is perhaps an obvious point. But by how much — and why — are less clear. Today total global debt stands at approximately $150 trillion, or 194% of global gross domestic product. And according … Read more
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