Global Rebalancing: Now or Never

Time and again, the lessons of a troubled world economy are the same: An unbalanced world is an unsustainable world. A decade ago, the world had just come through three difficult events in the span of three years – the Asian financial crisis, the Y2K scare, the bursting of the US equity bubble. The unbalanced world was ill equipped to deal with the asymmetrical shocks bound to follow. Steeped in denial, an unstable global economy continued its race to the edge.

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