The lesson we should draw, however, is not that continued financial globalization will draw ever greater amounts of capital to the United States or even to the industrial world more generally. There are limits to the accumulation of net claims against an economy that persistent current account deficits imply.
Investors need to allocate their money accordingly – and transparent, comprehensive data combined with innovative technologies can lead the way by helping financial institutions identify green and sustainable projects and companies. Admittedly, it is all very well to say that, but in practice still not quite as easy to do.