Мэттью К. Кляйн

Economic journalist and researcher whose 2020 book Trade Wars Are Class Wars (co-authored with Michael Pettis) reframed the origins of US-China trade conflict. The central argument: global trade imbalances are not primarily the result of currency manipulation or unfair trade practices but of domestic income inequality within surplus countries. When the rich in China, Germany, or other surplus nations consume too little relative to their income, the excess savings spill over into current account surpluses that must be absorbed by deficit countries — generating trade tensions. The framework drew on Keynes's original proposals for the Bretton Woods system and offered a structural explanation for why trade surpluses in some countries mechanically produce trade deficits in others. Previously wrote the Alphaville column at the Financial Times covering international finance and monetary plumbing. Now runs The Overshoot, a Substack newsletter on global macroeconomics with deep focus on balance of payments, central bank reserves, and cross-border capital flows. Highly active on Bluesky with real-time analysis of macroeconomic data releases.