1. Distinguishing four phases -- 2. Phase I (1951-65) : takeoff under a liberal regime -- 3. Phase II (1965-81) : socialism strikes with a vengeance -- 4. Phase III (1981-88) : liberalization by stealth -- 5. Phase IV (1988-2006) : triumph of liberalization -- 6. A tale of two countries : India...

This book examines imbalances in seven major economies: China, France, Germany, India, Japan, the United Kingdom, and the United States, evaluating key indicators agreed on by the G20 for identifying large imbalances, including public and private debt and private saving, and countries' external...