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Asian Officials Push Back Against Savings Glut Theory

Posted on July 04, 2009

The crisis originated from Wall Street and many indisputable facts have established that micro factors had played an overwhelmingly important role in causing this crisis. People outside China need a better insight into the high savings rate in China. -Chinese central bank governor Zhou Xiaochuan Gee, why do you think they would be upset about hare-brained rationales that duck blame for the crisis? Bernanke s 2005 global savings glut nonsense was an ill-conceived attempt to shift responsibility for U.S. policy mistakes to Asia. Of course, China s trade surpluses had an impact on the gl...

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bernanke , central bank , china , chinese , economy , gdp , online , savings rate