There are plenty of reasons why the financial crisis occurred. From subprime mortgages to lax regulation over the financial industry, there are many places to lay blame for the worst economic disaster since the Great Depression.
One of the biggest spots was the global imbalance of current accounts, according to HSBC Chief Economist Janet Henry. The imbalance from a world where some countries were hoarding and others were spending too freely led to malinvestment and ultimately bubbles according to Henry.
The worrying issue that faces the world now, said Henry in a note to clients, is that these imbalances are growing once read more >>>