AXIOS (Courtenay Brown) - How global economic imbalances resemble an ancient parable
The global economy faces the types of massive imbalances that preceded previous crises — despite important differences — and it's not yet clear how this debt cycle will end. Why it matters: The last four decades of economic turbulence trace back to a similar underlying issue, that the world's biggest economies are chronically out of sync, former top International Monetary Fund official Gita Gopinath argued in a buzzy speech Monday evening. - She spoke at the Atlanta Federal Reserve Bank's annual financial markets conference in Amelia Island, Florida. - Gopinath pointed to three major eras of global imbalances: the U.S.-Japan tensions of the 1980s, which culminated in the Plaza Accord ; the buildup to the 2008 financial crisis; and…