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
- Why Are China and Russia Not Rushing to Help Iran?Commentary
Most of Moscow’s military resources are tied up in Ukraine, while Beijing’s foreign policy prioritizes economic ties and avoids direct conflict.
Alexander Gabuev, Temur Umarov
- Georgia’s Fall From U.S. Favor Heralds South Caucasus RealignmentCommentary
With the White House only interested in economic dealmaking, Georgia finds itself eclipsed by what Armenia and Azerbaijan can offer.
Bashir Kitachaev
- What Does War in the Middle East Mean for Russia–Iran Ties?Commentary
If the regime in Tehran survives, it could be obliged to hand Moscow significant political influence in exchange for supplies of weapons and humanitarian aid.
Nikita Smagin
- How Trump’s Wars Are Boosting Russian Oil ExportsCommentary
The interventions in Iran and Venezuela are in keeping with Trump’s strategy of containing China, but also strengthen Russia’s position.
Mikhail Korostikov
- How Far Can Russian Arms Help Iran?Commentary
Arms supplies from Russia to Iran will not only continue, but could grow significantly if Russia gets the opportunity.
Nikita Smagin
