Commentary
Uri Dadush
{
"authors": [
"Uri Dadush"
],
"type": "other",
"centerAffiliationAll": "",
"centers": [
"Carnegie Endowment for International Peace",
"Carnegie Europe",
"Carnegie Russia Eurasia Center"
],
"collections": [
"Transatlantic Cooperation"
],
"englishNewsletterAll": "",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "",
"programs": [],
"projects": [],
"regions": [
"North America",
"United States",
"East Asia",
"China",
"Western Europe",
"Asia",
"Europe"
],
"topics": [
"Economy",
"Trade",
"Foreign Policy"
]
}
REQUIRED IMAGE
Other
Global Rebalancing: The Dangerous Obsession, February, 17, 2011
While the obsession with global rebalancing stokes currency and protectionist tensions, it diverts attention from what is really needed—reforms at home.
By Uri Dadush
Published on Feb 17, 2011
The current emphasis on global rebalancing—which aims to reduce trade deficits and surpluses—is misguided. Trade deficits and surpluses narrowed significantly during the Great Recession, can be financed and eased over time, and are largely the result of domestic forces—making further global rebalancing unlikely.
While the obsession with global rebalancing stokes currency and protectionist tensions, it diverts attention from what is really needed—reforms at home. Rather than focusing on global rebalancing, countries should concentrate more on fixing their domestic problems and expanding their domestic demand at the maximum sustainable rate.
A version of this policy brief was originally published in Current History.
About the Author
Uri Dadush
Former Senior Associate, International Economics Program
Dadush was a senior associate at the Carnegie Endowment for International Peace. He focuses on trends in the global economy and is currently tracking developments in the eurozone crisis.
- The Labors of Tsipras
- Greece, Complacency, and the EuroIn The Media
Uri Dadush
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie Europe
- How to Join the EU in Three Easy StepsCommentary
Montenegro and Albania are frontrunners for EU enlargement in the Western Balkans, but they can’t just sit back and wait. To meet their 2030 accession ambitions, they must make a strong positive case.
Dimitar Bechev, Iliriana Gjoni
- Taking the Pulse: Can NATO Survive the Iran War?Commentary
Donald Trump has repeatedly bashed NATO and European allies, threatening to annex Canada and Greenland and deploring their lack of enthusiasm for his war of choice in Iran. Is this latest round of abuse the final straw?
Rym Momtaz, ed.
- On NATO, Trump Should Embrace France Instead of Bashing ItCommentary
Donald Trump’s repudiation of NATO goes against the Make America Great Again vision of a U.S.-centered foreign policy. If the goal is to preserve the alliance by boosting Europe’s commitments, leaning into France’s vision is the most America First way forward.
Rym Momtaz
- Europe Doesn’t Like War—for Good ReasonsCommentary
The wars in Ukraine and the Middle East are existential threats to Europe as a peace project. Leaders and citizens alike must reaffirm their solidarity to face up to today’s multifaceted challenges.
Marc Pierini
- Win or Lose, Orbán Has Broken Hungary’s DemocracyCommentary
Hungarians head to the polls on April 12 for an election of national and European consequence. Three different outcomes are on the cards, each with their own implications for the EU.
Zsuzsanna Szelényi
