Trade wars, protectionist escalation, races towards overproduction will only produce losers. This is why addressing global economic imbalances is our key priority. And if we look at the situation, The current imbalances are due to some key phenomena: American overconsumption, Chinese under consumption and overinvestment, and European underinvestment and lack of competitiveness. And these imbalances are also reflected in development gaps, by the way. And we can no longer settle for aid that neither delivers sufficient results nor enables countries to escape poverty. (09:15–09:27)
CLAIM
Asserts that global economic imbalances are caused by American, Chinese, and European economic behaviors.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
