Notice of RetractionExplaining the global imbalance from the new perspective on international division

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Based on 30 countries panel data from 1990–2007, this paper use cross-section and panel regression techniques to characterize the relationship between balance of payment and imbalance. Besides, taking into consideration of the Economic Crisis, a dummy variation is introduced to describe the effect crisis. As a result, the significance level of model has a great improvement and offers a good explanation for several discontinuity points. It is found that countries with a comparative advantage of real economy tend to have large current account surplus. On the contrary, countries with a comparative advantage of fictitious economy incline to have large current account deficit. In conclusion, all countries are supposed to take coordinated measures to equilibrium the global imbalance.