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The 2018 External Sector Report shows that global imbalances, after narrowing in the aftermath of the global financial crisis, have remained unchanged over the past five years at about 3¼ percent of global GDP. Of this, 40-50 percent are now considered excessive – some countries are saving too much, and others are borrowing too much. Why does this matter? The persistence of excess imbalances could aggravate trade tensions and eventually become unsustainable, putting the global economy at risk. R
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