Current Account Deficits
Carmen discusses the implications of sustained large current account deficits, emphasizing their role in increasing indebtedness to the rest of the world. She highlights the recurring patterns observed across various countries, regardless of their economic status, and addresses the misconceptions held by wealthier nations about their immunity to such financial issues. The conversation also touches on the common symptoms of economic crises, drawing parallels between emerging and developed markets.In this clip
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Carmen Reinhart on Financial Crises
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