World Economic Forum Special Report: Contents
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Charles Dumas Director and head of the world service Lombard Street Research |
Half the world’s problem today is too much Eurasian saving. The other half is artificially induced spending by the rest. Eurasia is shorthand for China, Japan, Asian Tigers, and north-central Europe (Germany, Benelux, Scandinavia and Switzerland). The spenders? Most obviously Americans, other Anglo-Saxons and Mediterranean Europe. But the Americans are the biggest spenders of all, and the European deficit countries almost cancel the central-northern surpluses.
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