The turmoil has led to a gradual rebalancing, with the US current account deficit beginning to narrow and emerging markets taking steps to boost domestic demand.

Some of these challenges, such as the buildup of global imbalances, have been discussed for many years.

Any one of these would be a handicap at a time of rising populism, but the combination of all three is lethal.

2003.

Print.

Tensions hidden during the long Clinton era boom rose throughout 2001, when America tried to address its economic downturn by rapidly easing its monetary and fiscal policies. As big budget deficits returned, so did European skepticism about the sustainability of America's mounting external deficit and the overvalued dollar.

As big budget deficits returned, so did European skepticism about the sustainability of America's mounting external deficit and the overvalued dollar.

The Currency Quandary

Problems Tab

There'll be trouble.

Were there any problems?

There were problems.

There are problems.

These are mainly engineering problems, not negotiating problems.

The scale of the challenge is immense.

Major challenges remain.

The Challenges Of EU Enlargement

The Euro u0027s Troubles

The Trouble with Hope

But the challenges are daunting.

C. Systemic issues

Troubles with newspapers

Have problems with your joints?

Difficulties with finding jobs...

This is the core of the problem.

Don't make trouble.

Is Tom in trouble?

You have problems.

You have problems.

I'm having problems.

Are we in trouble?

This is part of the problem.

Is there a problem with Tom?

Your problems are over.

You've got problems.

You've got problems.

Are you having problems?

Are you having problems?

That's part of the problem.

Tom has problems.

You can t tackle something in a silo, he warns.

So everyone understands This is my country, and her problems are my problems

There is a solution to this problem.

But serious problems remain.

America s Trouble with China