Ultimately, there are important questions regarding the balance of rules and discretion and, regarding the latter, who should exercise that discretion. Household balance sheets The third risk relates to the health of Canadian household balance sheets.
That explanation holds that one of the factors driving recent developments in the U.S. current account has been the very substantial shift in the current accounts of developing and emerging-market nations, a shift that has transformed these countries from net borrowers on international capital markets to large net lenders.