Untangling the US Deficit: Evaluating Causes, Cures and Global Imbalances

The US current account deficit now absorbs four-fifths of the world's cross-border savings, and Iley, an economist in New York, and Lewis (banking and finance, U. of South Australia) evaluate the many explanations that US academics and others have offered to account for the imbalance. Though they do not explicitly pursue international geopolitical factors as explanations, they do find themselves crossing such territory as China's global ambitions and governance problems. Annotation 穢2008 Book News, Inc., Portland, OR (booknews.com)