Do not put off imbalances correction

Martin Wolf in the FT:

Martin Wolf in the FT asks the question "Is a benign outcome to the imbalances in the world economy likely?". "No, is the short answer." He goes through the imbalances and produces some excellewnt charts of the savings-investment imbalance through the world. He argues that the US imbalance is matched by a lack of investment in emerging Asia. Europe is on the sidelines but the IMF WER suggests that structural reform could play some part in the rebalancing (as could such change in Japan).