NDN’s Rob Shapiro Quoted in Washington Post Article on Global Economic Imbalances:

This morning, Rob Shapiro, Chair of the Globalization Initiative at NDN, had the closing quote in a front-page Washington Post article on imbalances in the global economy and the dangers they pose to an economically sustainable future:

"These imbalances weren't accidental," said Robert Shapiro, chairman of the economic advisory firm Sonecon and head of the globalization initiative at think tank NDN. "They solved large political and economic problems for a lot of countries and were the result of successful political arrangements. That's why they're so hard to untangle."

The article addressed the problem that much of the global economic recovery has been based on global imbalances, particularly Americans saving less while spending money they don’t have, while other countries overproduce and rely on Americans as “consumers of last resort.” It identified that while this may ease economic pains in the short run, such imbalances could undermine sustainability in the long run and even cause future economic crises.