Global Rx: China must consume more, U.S. must save more

FT columnist Martin Wolf is blunt in his most recent analysis of the global recession, and it's research that policy makers in China, Germany and the U.S, as well as investors, would be wise to review.

Essentially, Wolf says, it's 'put up or shut up time' for the nations with large current account surpluses. In particular, he singles out China and Germany, which, although not as complicit as the United States, contributed to the structural imbalances that helped trigger both the financial crisis and the prolonged global recession.