The World Is ‘Re-Imbalancing’ Again: SocGen
“The Chinese and Japanese current account surpluses have fallen noticeably, and the US current account deficit has narrowed too. However, the euro area (EA) has a growing surplus, and several major EM economies and the UK have seen worsening deficits. Rather than global rebalancing, we are experiencing global re-imbalancing,” says a research note on forex strategy from SocGen analyst Alvin T. Tan.
Current accounts and the big picture
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