This paper advances an alternative explanation of the large external imbalance between the United States (U.S.) and China, and its linkages to the current global financial crisis. The authors show that U.S. current account deficits dated back long before the emergence of China's recent large trade surpluses, with China accounting at its peak for at most one-third of this deficit. The relative rise in China's savings in recent years can be attributed...
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INFORMATION
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2010/06/23
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Article de revue
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82061
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1
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1
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2014/02/17
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Disclosed
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United States - China external imbalance and the global financial crisis
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current account deficit