on an increase in demand from the rest of the world, the impact on the U.S. economy would be minimal. But it seems … unfeasible for the rest of the world to boost demand, enough to eliminate the large deficits of the United States in the short ….S. domestic demand and increasing demand from the rest of the world. The challenge for policymakers worldwide is to maneuver such …

glutʺ observed in the era of advancing financial globalization. The supposed paradox is that the developing world has … States’ position as issuer of the world’s premiere reserve currency and supremacy in global finance explain the related …