How to Fix the Global Economy

The world has many imbalances, including ballooning debt held by the US and China’s growing trade surplus. World leaders recognize the problems – but tend to place blame on policies from other countries. Economist Joseph Stiglitz suggests that the problems are interconnected in many ways, systemic in nature, and therefore require a global effort. He urges every country to examine its own policies – spending, borrowing, taxation and currency behavior – and join the effort to eliminate dangerous imbalances that threaten global economic security. – YaleGlobal