O desequilíbrio da economia internacional dos anos 80

Abstract

This article analyses the changing relationship between the core economies of the western world. In this picture, the external disequilibria of the economies of the European Community, of the United States and of Japan are paramount- New in all this ís the fact that the American economy has become a deficit economy with a growing international debt. At the other side, Japan and Western Germany produce voluminous surplusses in their international financial and trade balances. We conclude that the hold of the U.S. on the western economy has slackened and, as a result of this decline of American hegemony and competitiveness, voices are heard that advocate a new system of macro-economic management for the western economy, e.g. management by a triad (the U.S., the EC-countries, Japan).