World Economic Forum Special Report: Contents
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Brian Reading Director Lombard Street Research |
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The world is suffering unprecedented financial imbalances between and within economies. Their inevitable reduction, whenever and wherever, will dominate global growth prospects over the next several years. The most spectacular imbalances are the US current account deficit and its domestic counterparts, government and household sector financial deficits. Some say that American profligacy (the spending spree) is to blame. This was accepted wisdom a few years ago.
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