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Perception of global imbalances as a problem way off base

State of global economy more the result of, say, asset inflation, debt, social welfare and inequalities.

The United States is running a deficit because, among other things, the households continue to spend more than their incomes warrant

ONE of the perennial themes in reports from global economic institutions such as the International Monetary Fund and the Organisation for Economic Co-operation and Development is global imbalances perceived as surpluses and deficits on the current account among major economic powers.

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