A G20 for nothing: as long as we keep talking we won't go to war
source: http://www.examiner.com/foreign-policy-in-national/a-g20-for-nothing-as-long-as-we-keep-talk...
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- Aimee_Kligman
- added this
So summed up economist Elie Cohen for Agence France Presse today regarding the much publicized meeting of the big twenty. How much money would have been saved by not holding the meeting? Did everyone just agree to disagree? One fact which is becoming irrefutable is that Washington has lost clout: in the earlier financial summit, the US was blaming China for manipulating its currency and keeping the value of the Yuan artificially low, whereas a number of emerging economies complained that U.S. policies are making the dollar too strong, thus lowering their potential for export.
On Friday, in Seoul, IMF Director Dominique Strauss-Kahn compared the evolution of the G-20 to that of the European Union, whereby nations learned to cooperate despite the fact that they really did not want to. He added that in this 'post-crisis' era, even if problems still exist, countries are less likely to cooperate as they are much more concerned about their individual national policies.
On Friday, in Seoul, IMF Director Dominique Strauss-Kahn compared the evolution of the G-20 to that of the European Union, whereby nations learned to cooperate despite the fact that they really did not want to. He added that in this 'post-crisis' era, even if problems still exist, countries are less likely to cooperate as they are much more concerned about their individual national policies.
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- groups:
- Community
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- tags:
- Financial Crisis, G20, Global Economy
