Can the IMF avert a global meltdown?

According to this article by Kenneth Rogoff, published on Thursday 7 September by The Japan Times, it is time for international institutions to step in to avert a global financial crisis.

"When world financial leaders meet in Singapore this month for the joint World Bank/IMF meetings, they must confront one singularly important question: Is there any way to coax the IMF's largest members -- especially the US and China -- to help diffuse the risks posed by the world's massive trade imbalances?"

"If

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