The sustainability of the large and persistent U.S. current account deficits is one of the biggest issues currently being confronted by international macroeconomists. Some very plausible theories suggest that the substantial global imbalances can continue in a benign manner, other equally...

The sustainability of the large and persistent U.S. current account deficits is one of the biggest issues currently being confronted by international macroeconomists. Some very plausible theories suggest that the substantial global imbalances can continue in a benign manner, other equally...

The sustainability of the large and persistent U.S. current account deficits is one of the biggest issues currently being confronted by international macroeconomists. Some very plausible theories suggest that the substantial global imbalances can continue in a benign manner, other equally...

The People's Republic of China (PRC)'s current account surplus, its growing foreign exchange reserves, and its shifting policies on exchange rate adjustment have become a central preoccupation of United States (US) trade policy. The paper considers the evolving political economy of the US policy...

Over the past decade, the United States has gone from enjoying a small trade surplus with China to grappling with an enormous deficit. Just to keep the gap from expanding in 1997, U.S. exports to China would need to grow at an extraordinary rate - four times as fast as Chinese exports to the...

By 1981, Japan achieved both internal and external equilibrium; exports and imports roughly balanced at sixteen percent of the gross national product. However, within the country, there was concern that the growth in the government, accompanied by raising budget deficits, would make it...

China's major imbalances include trade and capital account surpluses and a large annual build-up of international reserves. China has a capital account surplus reinforcing the accumulation of foreign exchange reserves, mainly U.S. dollar-denominated assets. Usually, a sustainable fixed or...