World in "Balance"

New data suggest a "rebalancing" of the global economy. Domestic spending in the developing world is beginning to replace export-buying American consumers as a growth engine.

New data "suggests a much-desired 'rebalancing' of the global economy," writes Robert Samuelson. "The world needs a new engine of growth to replace free-spending American consumers and their ravenous appetite for other countries' exports. ... Advanced countries can no longer borrow their way to prosperity. Hence, rebalancing. Developing countries, especially in Asia, that pursued export-led growth would shift to domestic spending."

Scroll down to load more…