Since the Asian Financial Crisis (AFC) of 1997-98 large current account surpluses have accumulated in the countries of Asia and the Pacific with corresponding deficits elsewhere. The sharp plunge in global trade volumes during the global financial crisis has highlighted the need for 'rebalancing'-focussing more on domestic sources of economic growth than on exports in some Asian economies. One key objective of the book is to elucidate the economic structures and policies that give rise to current account surpluses and imbalances and consider what policy adjustments could change them....
Since the Asian Financial Crisis (AFC) of 1997-98 large current account surpluses have accumulated in the countries of Asia and the Pacific with co...
