At a Glance…

2005 ◽  
Vol 193 ◽  
pp. 2-3
Keyword(s):  
Current Account ◽  
World Trade ◽  
Current Account Deficit ◽  
House Price ◽  
Petroleum Products ◽  
Oil Price ◽  
Housing Investment ◽  
The Us ◽  
Price Growth ◽  
Trade Growth

• Global GDP growth will slow from 5.1 per cent in 2004 to 4.2 per cent in 2005; world trade growth will slow from 9.1 per cent to 6.3 per cent.• The oil price is expected to remain above $50 a barrel, although in real terms it is well below the highs of the early 1980s.• Nearly 25 per cent of the deterioration of the US current account since 1997 can be attributed to net trade in petroleum products, and reflects the oil price.• A 10 per cent revaluation of the Chinese renminbi would have little impact on the US current account deficit.• Rapid real house price growth will continue to support US housing investment in 2005 and 2006.

scholarly journals OVERCOMING GLOBAL IMBALANCES IN THE WORLD ECONOMY IN THE CONTEXT OF EXACERBATION OF THE SOCIO-ECONOMIC CRISIS

2021 ◽  
Author(s):  
Bohdan Zavalii ◽  
Nataliia Skrypnyk
Keyword(s):  
Economic Crisis ◽  
Current Account ◽  
World Trade ◽  
World Economy ◽  
Global Financial Crisis ◽  
Current Account Deficit ◽  
Global Imbalances ◽  
The Us ◽  
The World ◽  
The Global Financial Crisis

The article considers methods of overcoming global imbalances in the world economy in the context of exacerbation of the socio-economic crisis. The definition of the concept of global imbalances formulated and their classification was covered. The article highlights the periodicity of global financial imbalances and global imbalances that affect macroeconomic development. It is determined that in recent decades, global economic development has undergone several economic crises that have created global imbalances in world trade and redistribution of capital and resources of national economies. The G20 premier forum for international economic cooperation must form a list of recommendation that every country should follow in order to overcome global imbalances. In addition, analyzed that all this is happening in the context of the slow growth of world trade since the global financial crisis of 2008 and the recovery of the world's economies from the shock caused by the spread of the COVID-19 epidemic. The article highlights the US deficit relative to gross domestic product and identifies its impact on the structure of global imbalances. It highlights how the US current account deficit affects the formation of current local imbalances between national economics. It analyzed that 2020 was a stage of economic collapse, similar in nature to the Great Depression of the 1930s. In the article was determined that global imbalances are the compound of deficits and surpluses on the current account. It is determined that the significant decline in international trade during the period 2020-2021 caused by the effects of the COVID-19 pandemic. It is determined that the new economic uncertainty is reflected in world capital markets in general and in international financial markets, in particular, in the volatility of capital flows to the economies of developing countries. The paper highlighted measures to support the countries most affected by COVID-19, as an example of cooperation in reducing today's global imbalances. All the above aspects formed and described in the following article with reasonable considerations and supplemented by examples of factual data.

The US Current Account Deficit

New Economy ◽  
2004 ◽  
Vol 11 (4) ◽  
pp. 243-248 ◽  
Author(s):  
Christian Weller
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
The Us

Prospects for Individual Economies

2011 ◽  
Vol 215 ◽  
pp. F16-F24
Keyword(s):  
Current Account ◽  
Government Spending ◽  
World Trade ◽  
Domestic Demand ◽  
Full Recovery ◽  
Current Account Balance ◽  
Consumer Spending ◽  
Import Penetration ◽  
Us Economy ◽  
The Us

Our estimates indicate that the US economy regained pre-crisis levels of output in the final quarter of 2010, with a full recovery in the levels of consumer spending as well as both exports and imports (see figure 2 above). Investment and inventory levels, however, remain well below pre-crisis levels, offset by higher government spending. The pace of recovery moderated in the second and third quarters of 2010, when annualised growth averaged 2.1 per cent per quarter, somewhat below potential. However, the slowdown was more a reflection of a recovery in import penetration and correction to the level of world trade than a sign of global slump. Domestic demand expanded at an average annualised rate of 4.7 per cent per quarter, pulling in imports and allowing the net trade position to worsen. In the final quarter of the year import growth appears to have moderated, and we expect the current account balance to have stabilised at 3½ per cent of GDP. We estimate that GDP expanded by 2.9 per cent in 2010 as a whole.

The Challenges of Narrowing the US Current-Account Deficit and Implications for Other Economies

2005 ◽  
Vol 2004 (1) ◽  
pp. 157-186 ◽  
Author(s):  
Anne-Marie Brook ◽  
Franck Sédillot ◽  
Patrice Ollivaud
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
The Us

scholarly journals Fundamentals at Odds? The US Current Account Deficit and Dollar

2008 ◽  
Vol 37 (3) ◽  
pp. 259-281 ◽  
Author(s):  
Gian Maria Milesi-Ferretti
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
The Us

Chapter II. The World Economy

1987 ◽  
Vol 122 ◽  
pp. 24-40
Author(s):  
Simon Wren-Lewis ◽  
Fiona Eastwood
Keyword(s):  
Stock Market ◽  
Current Account ◽  
World Economy ◽  
Current Account Deficit ◽  
Stock Market Crash ◽  
The Us ◽  
The World ◽  
Global Stock

To a large extent the seeds of the global stock market crash in October lie in the Louvre accord established at the beginning of this year. As we argue below, this agreement was fatally flawed in attempting to fix the dollar at too high a level. This error was initially both masked and aggravated by the extensive use of official intervention as the means of supporting the dollar. By the end of the summer it is estimated that up to two thirds of the US current account deficit was ‘covered’ by official intervention.

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