King, Mervyn - In: Bank of England Quarterly Bulletin 51 (2011) 1, pp. 43-48
In 2009, demand in the world’s major economies fell, relative to its pre-crisis trend, by around US$2.5 trillion or 5% of GDP. The financial crisis damaged virtually every country. Global imbalances helped to fuel the financial crisis. And today they threaten the sustainability of the recovery...
