I think these recent comments by Paul Volcker, the former Chair of the Federal Reserve, are extremely important to consider:
"The former central banker said international frustrations over the Fed’s plans are rooted in continued imbalances in the world economy – issues he said were present before the crisis but have yet to be fundamentally resolved. 'The emerging world has great momentum for growth, but does that have the kind of balance that is sustainable?' he asked. On the other side of the coin, he pointed to what he called 'America’s inability to produce the savings, investment and export competitiveness that is necessary as we enter a new decade.'" bold added
Batson, Andrew, 2010. Volcker skeptical on cooperation ahead of G-20. The Wall Street Journal, Nov. 9.
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