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Aussenwirtschaft; Zeitschrift für internationale Wirtshaftsbeziehungen - Vol. 62 Num. 2, Juin 2007

Muss Das Hohe Us-Leistungsbilanzdefizit Zu Einer Massiven Aufwertung Der Europäischen Währungen Führen? Eine Andere Sicht

The current account deficit of the United States, which about 6 1/2% of GDP, is generally regarded as unsustainable. Many observers hold the view that a sharp correction of this imbalance is imminent; this could lead to massive problems in the world economy because they believe that a drastic fall in the value of the US dollar and, consequently, a sharp appreciation of European currencies is inevitable. However, various economic adjustments in terms of global savings and investment suggest th...