Biagio Bossone: The missing variable in the imbalances debate
US deficit and the dollar’s reserve status are not separate stories The International Monetary Fund’s 2026 External Sector Report found something that should unsettle the standard story about global imbalances: they are now near 150-year highs. The Fund traces global imbalances back to domestic saving-investment gaps – weak Chinese investment and an over-spending US – […]