Your World in Charts: Current Account Balances Galore Edition
There's been some talk as of late about the role that current account balances might have played in skewing the global economy and causing the current crisis. But you know what there hasn't been? a really good graph. Luckily, Martin Wolf comes through:
That gap between the plummeting red line and the soaring blue line? In a manner of speaking, that's where the financial crisis happened.
By
Ezra Klein
|
June 16, 2009; 9:34 AM ET
Categories:
Charts and Graphs
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Posted by: tomtildrum | June 16, 2009 10:45 AM | Report abuse
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You're looking at the wrong red line. The US trade deficit has shrunk by half since 2006.
Thomas Huxley: "Another beautiful theory destroyed by an ugly fact."