cycle. Finally, recent policy initiatives suggest that India is poised to replace China as the dominant periphery country … evolve as we expected. China is likely to graduate from the periphery to the center in the next few years. This graduation …

cycle. Finally, recent policy initiatives suggest that India is poised to replace China as the dominant periphery country … evolve as we expected. China is likely to graduate from the periphery to the center in the next few years. This graduation …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and …). The paper finds that the changes of the world current account positions are driven by the macroeconomic pol-icy decisions … contribute to rising saving surpluses. -- Global Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus …