In China We Trust

Date: 18/8/2011

Governor of the Bank of England, Sir Mervyn King, recently said that there are "Global imbalances...in the world economy between creditors in the East and debtors in the West, and within the euro-area between creditors in the North and debtors in the South."

This analysis by King suggests that due to the successful Germany and Chinese economy the other parts of the world must rely on these creditor nations to make the right decisions to reduce the private and public debt.

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