Rising Global Imbalances Underscore Need to Confront Domestic Distortions
Jiaqian Chen, Josef Platzer Global current account balances increased further in 2025, driven primarily by China, where the current account surplus recorded the largest widening in at least two and a half decades. This was offset by some narrowing in the United States and the euro area. As our latest External Sector Report shows, China’s current account […]
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Adam Tooze: Greedflation meets China shock: Can Europe’s car industry be saved without making the cost of living crisis worse?
The European car industry riding high, leading the world in sophisticated manufacturing, earning record profits, paying out huge dividends. No, I am not dreaming. I have not had a European summer stroke induced by a lack of air conditioning. This was the state of play in 2019, when according to no lesser authority than McKinsey, the European car […]
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