- It is important to examine the current account also from the perspective of savings and investment. Current imbalances in the global economy are largely due to the low level of savings and high level of consumption in some western economies, particularly the USA, and the abundant savings and modest private consumption particularly in several Asian economies.
Recently, savings rates have also inreased sharply in oil-producing countries, with the boost in income from high oil prices. - One should also emphasise the factors related to indebtedness and financial investment. By definition, the increase in an economy's indebtedness is the counterpart of its current account deficit.