Imbalances the major threat
FRONT PAGE NEWS
The eight representatives of global banks agreed that imbalances were a threat to the world economy but had different views on how they should be eradicated.
Rachel Lomax, deputy governor of the Bank of England, said it is unclear how long the current situation – which sees Asian countries holding vast reserves of dollars – can last. "You have to question the sustainability of the imbalances. The benefits are not evenly spread so those countries in Asia that do not have a huge surplus of labour
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