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Erschienen in:
2015 | OriginalPaper | Buchkapitel
Introduction
verfasst von : Angélique Herzberg
Erschienen in: Sustainability of External Imbalances
Verlag: Springer Fachmedien Wiesbaden
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In particular since the mid-1990s, sustainability of large and persistent current account positions—a deficit in the United States matched by surpluses run notably by Japan, China, Germany, and oil-exporting countries—have been attracting much attention from policy makers and economists alike. The emergence of so-called “global imbalances” has been accompanied by two other developments: the “uphill” flow of financial capital from emerging markets to industrial countries and a large accumulation of international currency reserves.