https://youtu.be/CO9_mEmlKrY?si=ZDxui645iflX6dQ1&t=274

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"And importantly, they're coming from what are often been historical net savers—countries like Germany, Korea, Japan—that have historically exported capital because there wasn't really a need for it inward, have instead really needed to kind of raise the returns on what can be generated internally, try to keep the capital inside instead of sending it out. So these are both important drivers for what we see for global growth and inflation as well as important cross-border capital drivers that are determining kind of which countries, what the relative pressures are." — Karen Karniol-Tambour (00:05:43)