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 Russia Eurasia Center
- Power, Pathways, and Policy: Grounding Central Asia’s Digital AmbitionsCommentary
Central Asia’s digital ambitions are achievable, but only if policy is aligned with the region’s physical constraints.
Aruzhan Meirkhanova
- The Afghanistan–Pakistan War Poses Awkward Questions for RussiaCommentary
Not only does the fighting jeopardize regional security, it undermines Russian attempts to promote alternatives to the Western-dominated world order.
Ruslan Suleymanov
- Moldova Floats a New Approach to Its Transnistria ConundrumCommentary
Moldova’s reintegration plan was drawn up to demonstrate to Brussels that Chișinău is serious about the Transnistria issue—and to get the West to react.
Vladimir Solovyov
- Lukashenko’s Bromance With Trump Has a Sell-By DateCommentary
Lukashenko is willing to make big sacrifices for an invitation to Mar-a-Lago or the White House. He also knows that the clock is ticking: he must squeeze as much out of the Trump administration as he can before congressional elections in November leave Trump hamstrung or distracted.
Artyom Shraibman
- What the Russian Energy Sector Stands to Gain From War in the Middle EastCommentary
The future trajectory of the U.S.-Iran war remains uncertain, but its impact on global energy trade flows and ties will be far-reaching. Moscow is likely to become a key beneficiary of these changes; the crisis in the Gulf also strengthens Russia’s hand in its relationships with China and India, where advantages might prove more durable.
Sergey Vakulenko
