Bank of Canada Governor Tiff Macklem raises concerns about growing and persistent global economic imbalances in a speech delivered in Paris to a business audience. Across the outlets, Macklem argues that imbalances—whether they stem from trade patterns or from fiscal and investment flows—become problematic when they last for an extended period rather than correcting naturally over time. The coverage describes his focus on structural factors that can distort global demand and capital allocation. This includes the role of overproduction in some economies, with China cited as an example of persistent output that can affect global trade flows. Macklem also points to the scale and direction of investment flows, particularly flows into the United States, which he says can contribute to imbalances between major economic powers. The reports characterize the remarks as a warning that sustained disparities can raise risks for the broader global economy, rather than treating them as temporary fluctuations.