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 …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and …). The paper finds that the changes of the world current account positions are driven by the macroeconomic pol-icy decisions … contribute to rising saving surpluses. -- Global Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus …

of steps to address global imbalances. Beyond stimulus packages around the world, it urges measures to raise savings …