Miguel Afonso Caetano<p>"Are today’s trade and current account imbalances unique in history? Are international economic relations characterized by self-correcting market mechanisms, or by persistent imbalances and power relations between nations? What does this mean for collective regulation and the organization of the international monetary system and global trade rules?</p><p>In a new study, Gastón Nievas and Thomas Piketty examine patterns of global imbalances, current account surplus/deficit and net foreign wealth accumulation over more than two centuries. They also present “counterfactual simulations” exploring how these dynamics might have evolved under alternative trade and monetary regimes.</p><p>The study draws on a new database wbop.world tracking global trade flows and the balance of payments (goods, services, income, and transfers) across 57 core territories (48 main countries + 9 residual regions) from 1800 to 2025."</p><p><a href="https://wid.world/news-article/unequal-exchange-and-north-south-relations/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">wid.world/news-article/unequal</span><span class="invisible">-exchange-and-north-south-relations/</span></a></p><p><a href="https://tldr.nettime.org/tags/Colonialism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Colonialism</span></a> <a href="https://tldr.nettime.org/tags/Inequality" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Inequality</span></a> <a href="https://tldr.nettime.org/tags/GlobalTrade" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GlobalTrade</span></a> <a href="https://tldr.nettime.org/tags/PoliticalEconomy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PoliticalEconomy</span></a></p>