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eBook details

Title: Global Imbalances and Financial Reform with Examples from China.
Author : The Cato Journal
Release Date : January 22, 2006
Genre: Politics & Current Events,Books,
Pages : * pages
Size : 238 KB

Description

I will focus on a familiar issue, the problem of global current account imbalances, and will describe how financial sector reform can help narrow them, using examples from China. The United States is running a current account deficit approaching 6.25 percent of its GDP and over 1.5 percent of world GDP. To help finance it, the United States pulls in 70 percent of all global capital flows. Clearly, such a large deficit is unsustainable in the long run.