In 2008, six countries accounted for close to 70% of global trade deficits; the United States,
France, Italy, the United Kingdom and Australia. Inversely, countries having a positive trade
balance tend to be export-oriented and dependent on international trade for their economic
growth. Taken together, they generated 83% of the global financial surplus in 2008. Economic
history teaches that acute imbalances cannot be maintained indefinitely without a
readjustment. This commonly emanates in a sharp and rapid correction.