Policy coordination to be key challenge at G20 summit

0 CommentsPrint E-mail Xinhua, June 25, 2010
Adjust font size:

At the Group of 20 (G20) summit in Toronto, achievements of an out-of-recession and slow growing world economy will be cheered. But more important to observe is that how governments deal with their differences or even conflicts in major economic or financial policies amid an uneven recovery.

Countries of G20, with their varied pace of recovery from the global financial crisis, will review conditions of the world economy and coordinate their macroeconomic policies at a summit this weekend in Toronto to secure the global recovery.

Issues like anti-protectionism, free trade and investment, and development in Africa etc will be discussed. But divergence among major economies on key issues of exit strategy or financial regulation reform will be the center of the summit.

Balance between exit and recovery

The top priority on the G20 Toronto Summit agenda may be that how to balance financial consolidation and protecting economic recovery in the post-crisis era. But it is the issue which Europe and United States agrees on least.

Troubled by sovereign debt crisis, many countries in the European Union have launched financial austerity plans in a bid to cut public spending and reduce fiscal deficit. EU leaders have made it clear that they believe delaying exit strategy will endanger the financial stability.

In a joint letter to G20 partners, EU President Herman Van Rompuy and European Commission President Jose Manuel Barroso said the EU will stick to its financial consolidation targets in order to achieve a sustainable financial system. And if necessary, all EU members will take further steps to speed up consolidating their finances.

EU's move has triggered worries from the United States. The world's number one economy is concerned that EU members' conservative financial policies will hurt the world economic recovery. "Countries must put in place credible plans to stabilize debt-to-GDP levels and set a pace of consolidation that reinforces the momentum of growth," Treasury Secretary Timothy Geithner and Lawrence Summers, director of the National Economic Council, wrote in an opinion piece posted on Wednesday's The Wall Street Journal.

"We must demonstrate a commitment to reducing long-term deficits, but not at the price of short-term growth," they wrote. "Without growth now, deficits will rise further and undermine future growth."

1   2   Next  


Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 无遮挡无删动漫肉在线观看| 欧美成人在线免费| 无套内射无矿码免费看黄| 亚洲五月激情网| 正能量网站不用下载免费观看视频软件| 北条麻妃在线一区二区| 色综合久久天天综合| 国产女人的高潮国语对白| 欧美性巨大欧美| 国产精品手机在线亚洲| 99久久无码一区人妻| 女的张开腿让男人桶爽30分钟| 东北疯狂xxxxbbbb中国| 日本一区二区三区四区视频| 久久电影网午夜鲁丝片免费| 精品400部自拍视频在线播放| 国产一卡二卡三卡| 国产人成精品香港三级在| 国产视频你懂得| 99久久免费国产精精品| 女人让男人直接桶| 一本大道无香蕉综合在线| 成人午夜视频在线播放| 亚洲va国产va天堂va久久| 欧美激情第1页| 四虎影视永久免费观看| 香港全黄一级毛片在线播放| 国产成人无码一区二区三区在线| yy6080理aa级伦大片一级毛片| 国产精品老女人精品视| 三级黄在线播放| 无码丰满熟妇浪潮一区二区AV| 久久久久国色av免费看| 欧美成人看片黄a免费看| 亚洲精品www| 精品视频香蕉尹人在线| 国产zzjjzzjj视频全免费| 色婷婷视频在线观看| 国产一级特黄高清免费下载| 西西人体www44rt大胆高清| 国产精品美女久久久久久2018 |