IMF Managing Director Dominique Strauss-Khan:
He argued that global economic growth can no longer be expected to come from such macro-economic imbalances as US indebtedness.
In the United States, hard-hit by recession, “the household savings rate, which was practically zero, is now at 5.0 percent … Good news for the deficits. But who will replace the US consumer to power global growth?”
He recalled that the United States accounts for 25 percent of global output.
“The question of new sources of growth must be considered.”