How global economic imbalances resemble an ancient parable

The global economy faces the types of massive imbalances that preceded previous crises — despite important differences — and it's not yet clear how this debt cycle will end.Why it matters: The last four decades of economic turbulence trace back to a similar underlying issue, that the world's biggest economies are chronically out of sync, former top International Monetary Fund official Gita Gopinath argued in a buzzy speech Monday evening.She spoke at the Atlanta Federal Reserve Bank's annual fin...