Rebalancing, Growth, and Development in a Multipolar Global Economy

Abstract

Reduction of large and persistent external imbalances is currently a key focus of G-20 discussions. The paper argues that in a progressively multipolar world economy, the goals of global rebalancing, growth, and development are increasingly inter-linked. Growth-oriented rebalancing calls for emphasizing structural reforms and leveraging the role of developing countries in supporting strong and balanced global growth.Basel III, Imbalances, current account, global imbalances, g20, g-20, development, growth, structural reforms, developing countries