Well, it turns out that China wasn’t really the culprit that created global financial imbalances. Instead, the oil-exporting nations are to blame, and they are squirrelling away the cash in hard-to-reach places. What this means, of course, is that the income is permanently removed from oil-importing countries to oil exporters, thus depressing global demand. Fuel is affecting the economy in more ways than one, reveals The Economist in this thorough article.
By Alex Lennane