The global economic imbalances : the dangers of not rebalancing

Shalendra D. SHARMA*

*Corresponding author for this work

Research output: Journal PublicationsJournal Article (refereed)

Abstract

“Global imbalances” manifest in the large current account deficits and surpluses in the global economy and blamed by many for the global financial crisis of 2008 has become a source of much friction and discord among the G-20 economies. Rebalancing the global economy is essential to mitigating the divisions and promoting a more sustainable economic recovery. How and why did these imbalances emerge in the first place, what explains why rebalancing has proven to be so difficult, and what are the implications of failure? This paper addresses these interrelated issues.
Original languageEnglish
Pages (from-to)153-176
Number of pages24
JournalNew Global Studies
Volume8
Issue number2
Early online date6 Jun 2014
DOIs
Publication statusPublished - Jul 2014

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Keywords

  • global economic imbalances
  • emgerging economies
  • China's currency
  • currency manipulation
  • US dollar

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