Imbalances
in sentence
916 examples of Imbalances in a sentence
Despite all the lip service paid at multilateral summits to policy coordination,
imbalances
within the global economy are fueling a rise in tensions.
In particular,
imbalances
in implementing the NPT obligations by the nuclear haves and have-nots are sharpening.
Developing a new set of non-proliferation mechanisms would be a waste time that we cannot afford, because any new protocol would have a dubious legal basis and encourage further
imbalances
in implementation.
Indeed, the question is not so much whether the global system will endure the
imbalances
spawned by China, but how severe those
imbalances
will prove to be.
Of course, the global
imbalances
associated with China’s economic rise can take longer to adjust than they otherwise would, simply because the US welcomes it as being in America’s own interest.
But the way housing finance is organized differs enormously from country to country, and these differences explain the recent global
imbalances
and financial crashes.
Germany’s external surplus clearly falls afoul of eurozone rules on dangerous
imbalances.
Indeed, the current situation indicates that a significant adjustment in exchange rates may not be needed at all in order to redress global
imbalances.
In 2004-2007, I considered that I might be wrong about a relatively rapid resolution to the world’s economic distress: as the late Rudi Dornbusch put it, unsustainable macroeconomic
imbalances
can sustain themselves longer than economists (with their touching faith in rational human decision making) believe is possible.
Rudi Dornbusch was right:
imbalances
can last for longer than economists believe possible.
These external
imbalances
were also driven by the euro’s strength since 2002, and by the divergence in real exchange rates and competitiveness within the eurozone.
In Ireland and Spain, private savings collapsed, and a housing bubble fueled excessive consumption, while in Greece, Portugal, Cyprus, and Italy, it was excessive fiscal deficits that exacerbated external
imbalances.
Indeed, empirical research suggests that countries without explicit or implicit access to liquidity tend to hold much higher reserves than the privileged few – only to be blamed by the same privileged few for contributing to global
imbalances
by hoarding excess reserves.
Out goes the fusty old inflation-targeting regime, with its fixation on the consumer price index and disregard for financial-sector
imbalances.
China’s domestic
imbalances
point to another economic law that it has managed to break.
Second, removing
imbalances
is the responsibility of national governments within the context of a rescue regime arranged by supranational authorities – the European Commission and the European Central Bank – in cooperation with the European Council, which in turn represents national governments.
The Greek saga shows that this system cannot control destabilizing
imbalances
quickly enough to ward off major crises.
Imbalances
are not solely the result of irresponsible policies.
Outside Japan, Asia policymakers certainly don’t seem amenable to exchange-rate appreciationSince the beginning of this decade, at least a few economists (including me) have warned that the global trade and current-account
imbalances
needed to be reined in to reduce the chance of a severe financial crisis.
The US and China are not solely responsible for these imbalances, but their relationship is certainly at the center of it.
If US and Chinese policymakers instead surrender to the temptation of slipping back to the pre-crisis imbalances, the roots of the next crisis will grow like bamboo.
Simply put, exchange-rate movements do not properly correct net trade (saving)
imbalances
between open economies; but they can increase hot money flows.
Its
imbalances
have gotten worse as well, with the investment share of GDP approaching 50% and private consumption falling below 35% of GDP.
The peripheral countries suffer from severe stock and flow
imbalances.
The stock
imbalances
include large and rising public and private debt as a share of GDP.
The flow
imbalances
include a deepening recession, massive loss of external competitiveness, and the large external deficits that markets are now unwilling to finance.
And, without resumption of growth – not years down the line, but in 2012 – the stock and flow
imbalances
will become even more unsustainable.
Third, contributing factors included low interest rates, compressed risk spreads, and global
imbalances
that accommodated low savings in the US, consumption in excess of output, and a mounting trade deficit.
Only a combination of these options would allow Arab economies to create jobs in the short term, while avoiding the risks of destabilizing fiscal
imbalances
or a lack of financing for private-sector investment.
To begin, the presumed causes of homosexuality are shrouded in pseudo-scientific theories and psycho-babble: homosexuals supposedly suffer from hormonal imbalances, or were sexually abused as children, or constitute an indeterminate "third sex" that is neither male nor female, or had absent fathers and over-protective mothers.
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