Here is a chart from an interesting working paper titled "Global Imbalances and the Financial Crisis". The chart visualizes developments in the global configuration of external balances. On the left side, the deficit side, US current account deficit widnened to 2% precent of the world GDP in 2006. As the recession hit, the trend began to reverse. On the surplus side, we can note a increasing trend fueled by China nad oil exporting countries.
What does this mean for our future?
***FREE is visiting the University Chicago for the Myron Scholes Forum featuring Stephen Cecchetti who will speak regarding global imbalances. Below is the official flyer:
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