What's important to recognize is that
the deep trade imbalances afflicting the U.S. in recent years mainly reflect the impunity with which other countries exploit access to its capital account.
Not exact matches
It is not an accident that the
deepest set of
trade imbalances, followed by worst crisis since the establishment of the Bretton Woods system, was the 2007 - 08 crisis.
Any policy that does not clearly result in a reversal of the
deep debt,
trade and capital
imbalances of the past decade is a policy that can not be sustained.
There have been many explanations put borth inlcluding
deep ocean heating, ozone chemistry, volcanoes reducing incident energy,
trade winds and, of course, Cowtan and Way along with this latest data set that shows the energy
imbalance is still tracking CO2.