Addressing the pressing need to reduce Global and European Imbalances

Policy Brief

Giovanni Cozzi, University of Greenwich, and Terry McKinley, SOAS (University of London), focus this Policy Brief on projected trends over the next ten years in two key economic variables: GDP growth rates and current-account balances as a ratio to GDP.

At the global level, it examines these two variables for the four most economically important countries/blocs: the USA, Japan, the People’s Republic of China and the European Union.

Within the European Union it focuses on the same variables for the Core Eurozone (which groups together such countries as Austria, Germany and the Netherlands), the Eurozone Periphery (which groups together such countries as Greece, Italy, Portugal and Spain) and the two major countries of France and the United Kingdom.