The document discusses global current account imbalances and their potential contribution to financial crises. It highlights the extreme levels of imbalances over the past 20 years, particularly China's surplus and its impact on global interest rates and credit expansion. The document includes a table showing current account imbalances by region from 1990 to 2016, emphasizing the role of cross-border flows in the financial system's vulnerability to crises.
doj/DataSet10/EFTA01384475.pdf
{"title":"Long-Term Asset Return Study: The Next Financial Crisis","document_date":"2017-09-18","document_type":"tabular","key_organizations":["Deutsche Bank AG"],"reference_numbers":["DB-SDNY-0084697","SDNY_GM_00230881","EFTA01384475"]}