国际货币基金组织在20世纪末已经开始提出全球经济的外部失衡问题,然而由于缺乏主权国家的配合,在失衡治理方面并没有实质性进展。全球经济失衡表现与全球经济状况呈现联动关系。2011年随着经济增长乏力以及多重危机的困扰,全球经济失衡进一步加大。大体而言,全球经济失衡可以从以经常账户为代表的外部经济失衡、储蓄和投资为指标的内部经济失衡及以金融账户和外汇储备为代表的国际金融往来失衡等三个角度展开。而导致经济失衡的原因既包括“好的原因”如基本面因素,也有“坏的原因”如存在缺陷的国际货币体系、国际金融监管缺位和扭曲的国内经济政策等。G20平台对全球再平衡的主要治理工作从参考性指南开始,确定了中国、法国、德国、印度、日本、英国和美国7个存在系统重要性的失衡国家,通过宏观经济政策互评MAP对这些国家导致失衡的扭曲政策做出了界定,并以“戛纳行动决议”的方式提出了整改建议。
The IMF has proposed the issue of external imbalance of global economy at the end of the 20th century. However, it did not make any substantial development on the governance imbalance because of the lack of support by the sovereign states. The performance of global economic imbalance has linked with the performance of global economy. Global imbalance has widened with the lack of economic recovery and multiple crises in 2011. In general, global economic imbalance can be analyzed by three frameworks: the external imbalances from the standpoint of current account, the internal imbal- ance with respect to saving and investment, the international finance exchange imbalances on financial account and foreign reserves. The reasons leading to imbalance are not only the "good" ones such as some fundamental factors but also the "bad" ones such as the flawed international monetary system, absence of international finance regulation and distorted domestic policy. G20 has identified 7 imbalance countries such as China, France, Germany, India, Japan, British, and the USA with systematic importance based on the Indicative Guidelines, located the distorted policy leading to imbalance, and proposed "Cannes G20 Action Plan" for concrete improvement.