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Did global imbalances cause the financial crisis? A number of influential figures have argued that inflows of foreign capital into the US due to the current account deficit helped to trigger the crisis. This paper argues that the evidence for this position is weak. The capital inflows into the...
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, other Asian economies, and Germany's export-led growth. However, as the world oil production approaches the peak, the … imbalance has reached an unprecedented level and the world economy becomes more globalized, the global imbalance will become a …
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