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Rising Global Imbalances Should Be Ringing Alarm Bells, Says HSBC

German, Japanese, and Chinese savings are bloated once again.
Fonderia campane Marinelli

Global current-account imbalances are back, bringing with them deflationary forces and slamming the brakes on global growth.

That's the sobering conclusion of an HSBC Holdings Plc report published on Thursday, which laments that an effective, international policy response to the problem is likely to be a long way off.