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US indebtedness to the rest of the world stands at roughly 3.3 trillion dollars. Resolution of this imbalance is a perennial worry in official and private sector forecasts of the global economic outlook. A common view is that global imbalances are unsustainable and will eventually be corrected by large changes in prices and quantities of international traded goods and assets. In a best-case scenario, these can be smoothly orchestrated. In a worst case, they happen through a sudden, disorderly process, certain to entail a large fall in the real value of the dollar.
The issues to be addressed during the conference call will include:
