New data "suggests a much-desired 'rebalancing' of the global economy," writes Robert Samuelson. "The world needs a new engine of growth to replace free-spending American consumers and their ravenous appetite for other countries' exports. ... Advanced countries can no longer borrow their way to prosperity. Hence, rebalancing. Developing countries, especially in Asia, that pursued export-led growth would shift to domestic spending."

Read it at The Washington Post