World markets focus on imbalances
AFP, March, 2007
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PARIS (AFP) — Fear was back on global stock markets last week as investors worried about the financial and trade imbalances that have built up during years of strong growth for the world economy.
Last week worldwide markets fell by between four to eight percent, while the Shanghai stock exchange had its biggest fall in a decade on Tuesday and Wall Street had its worst day since the aftermath of the September 11, 2001 attacks.
Investors appeared to refocus on some of the weak spots of the global economy while worrying about the end of a stock market bubble in China and slowing economic growth in the United States.
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The fundamental concerns are imbalances in global capital and trade flows and the risk of a sharp fall in the US dollar.
In 2006 the United States for the fifth consecutive year posted a record trade deficit of 764 billion dollars ...
