Publications

Policy Note 2019/2 | May 2019

Global Imbalances and the Trade War

Against the background of an ongoing trade dispute between the United States and China, Senior Scholar Jan Kregel analyzes the potential for achieving international adjustment without producing a negative impact on national and global growth. Once the structure of trade in the current international system is understood (with its global production chains and large imbalances financed by international borrowing and lending), it is clear that national strategies focused on tariff adjustment to reduce bilateral imbalances will not succeed. This understanding of the evolution of the structure of trade and international finance should also inform our view of how to design a new international financial system capable of dealing with increasingly large international trade imbalances.

Publication Highlight

Public Policy Brief No. 146
Stagnating Economic Well-Being and Unrelenting Inequality
Post-2000 Trends in the United States
Author(s): Ajit Zacharias, Thomas Masterson, Fernando Rios-Avila
August 2018

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