Creditor or Debtor? According to economist Gabriel Zucman, why is Europe actually a net creditor when the commonly used international financial data seem to show it is a net debtor? What does the...

Creditor or Debtor? According to economist Gabriel Zucman, why is Europe actually a net creditor when the commonly used international financial data seem to show it is a net debtor? What does the commonly used data leave out? (Related to Application 2 on page 422.)