The global trade as well as global financial architecture is extremely skewed. The US literally consumes while the rest of the world produces. Simply put while countries Viz., China, Japan, the South East Asian countries, Latin American countries as well as India are producing and exporting to America, America is singularly consuming their exports. Consequently, while the exporting countries are accumulating dollars, the US is accumulating the corresponding debt. It is not merely that the US citizens are on a consumption binge; the US government too is living way beyond its means. All these mean that the US is running trade deficit as well as budgetary deficits. And in true American style they are gargantuan.