Global trade imbalance and economic crisis

Global trade imbalance is one of the factors of the ongoing economic crisis. Dependence of Western countries on capital from Asian countries created a supply of innovative financial instruments, which drawn the world into financial and economic crisis. After the crisis, international trade collapsed, with some specific features: trade declined faster than production, trade in equipment and durable consumer products plunged, international supply chains suffered. Future challenges are related to possible protectionism and wrong approaches for global rebalancing