Summary:
The book analyzes the flaws in the global financial system, particularly the reliance on the US dollar, and how this has led to imbalances that threaten economic stability. It offers insights into the potential fallout from these imbalances and proposes solutions to avert a global economic crisis.
Key points:
1. Trade Imbalances: Duncan points out that big trade deficits in countries like the US and surpluses in China and Japan cause global market distortions and contribute to the dollar crisis.
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