For several centuries, international relations have been structured by mercantilist practices. These aim at generating an external trade surplus to accelerate the pace of domestic accumulation. The countries that are subjected to these practices have a foreign trade deficit, which tends to...

The current crisis is spreading from the rich countries to those which surround them respectively, countries wherein its degree of gravity is even greater; in turn, that effect sets off a yet stronger backwash in those countries in the Centre, which further aggravates the situation. This...

The contemporary global economy appears to be structured around the relationships established between countries with strong foreign exchange balances and low domestic indebtedness, like China, and countries with high foreign exchange deficits and high domestic indebtedness, like the United...