Report on Global Imbalances by the G7 Group of Economic Experts

As part of the French Presidency of the G7, a distinguished panel of economists including Chong-En Bai, Gita Gopinath, London Business School's Hélène Rey, and Axel Weber, has presented a comprehensive report on global imbalances to the President of the French Republic.

Chong-En Bai is Distinguished Professor of Arts, Humanities, and Social Sciences and Dean of the School of Economics and Management at Tsinghua University. Gita Gopinath holds the Gregory and Ania Coffey Chair in Economics at Harvard University. Hélène Rey, recently appointed Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements, also holds the Lord Raj Bagri Chair in Economics at London Business School. Axel Weber serves as President of the Center for Financial Studies at Goethe University, Frankfurt.

In an era where profound global economic imbalances threaten sustainable growth, the President has made restoring balanced and inclusive growth a cornerstone of France’s G7 agenda.

The report identifies the key drivers of these imbalances: predatory competition, industrial overcapacity, underinvestment, excessive indebtedness, deregulation, declining international solidarity, and insufficient private investment in developing economies. Such structural distortions jeopardise national prosperity, amplify trade tensions, and weaken international cooperation. They also heighten the risk of protectionist retrenchment and lay the groundwork for potential financial, economic, and geopolitical crises.

Drawing on several months of rigorous analysis by internationally recognised macroeconomists, the report offers a detailed diagnosis of global imbalances and provides a set of cooperative, multilateral policy recommendations aimed at promoting a more stable, equitable, and resilient global economy.

Read more here: Rapport sur les déséquilibres mondiaux par le groupe d'experts en économie du G7