IMF's Rajan on a global shortage of fixed assets

In the speech 'Is there a global shortage of fixed assets?' given on 1 December Raghuram Rajan of the IMF said investment does seem to be picking up steadily.

"My hope is that as a better balance between desired savings and realized investment is achieved over time-long term interest rates will move up steadily, certain pumped up asset markets will deflate slowly, exchange rates will adjust, and global imbalances will narrow, without major blow-ups. In some sense, if the underpinnings of the

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