Rebalancing the World Economy

"Even though there is a lot of experience with corrections in economies over the years, too seldom does it come down to intelligent, complementary economic policies. Usually these corrections are triggered by a financial crisis when disequilibrium becomes so great, the extensions of credit become so large, the uncertainties become so apparent, that there is a real crisis in financial markets. Clearly, there was a huge crisis in the United States, but not in the United States alone. With that as the background, where does the global economy stand now?..."