macro-economic imbalances. At the heart of the problem is the U.S. external deficit that has turned the U.S. into the world …'s largest debtor nation while developing countries, most notably in East Asia, are now among the world's largest creditors … the U.S. deficit is closed.A review of how the world economy came to find itself in this historically unprecedented …

the Center tries to bring to the broad policy debates that policy choices in the rich world and at the global level have … tremendous implications for progress against poverty in the developing world." …

and integration between countries, substantial differences still exist throughout the world. Global Divergence in Trade …