Countries with severe and persistent current account deficits were allowed to devalue their currency.
Asia's persistent current account surpluses and undervalued currencies could add to pressures to erect barriers in the us and Europe if things turn bad.
Part of the reason is that capital inflows have gone mainly to finance its persistent current-account deficit.
Effects of gradient disorder on persistent currents in two-dimensional mesoscopic rings
If the us will not run large and persistent current account deficits, countries such as China, and probably Germany and Japan, will not be able to run large and persistent current account surpluses.
Tunneling coefficient and persistent current in triple-arm quantum ring with double δ barrier