In 1989, the five Maghreb countries—Algeria, Libya, Mauritania, Morocco and Tunisia—established the Arab Maghreb Union to promote cooperation and economic integration. Thirty years later, there is still a largely untapped potential for regional trade among Maghreb countries. […]
Worsening terms of trade, and the persistent strength of imports tied to investment spending have had a substantial impact on China’s currency account surplus. Economists here at the IMF suggest they account for close to two-thirds of that decline since 2007. But as I said above, there is little evidence that consumption is rising as a share of GDP. Yes, China is increasingly becoming a source of final consumer demand for the world economy, but its imports of consumer goods are growing at a slower pace than its imports of machinery and equipment.