The world economic crises crosses all borders. The U.S., China, Japan, and the Eurozone are only a few of the many economies with centralized critical issues. Countries and central banks that are performing relatively well are still feeling the pain through trade. World leaders meet Friday and Saturday in Moscow, attempting to chart a course towards recovery.
As central bankers and finance ministers from the Group of 20 nations put their heads today, they are expected to talk about global balancing, policy clarity, and employment.
According to Fox Business they “were expected to call for greater clarity in policy ‘messaging’ after signals of a withdrawal of U.S. monetary stimulus caused a global sell-off in stocks and bonds, and a flight to the dollar.” Maybe ECB Pres. Draghi and BOJ Gov. Haruhiko Kuroda didn’t catch the Tapering drift until Bernanke’s message took the media by storm in late May and June of this year.
What the U.S. Treasury Secretary Thinks Should Be On Top of The To-Do List
“Getting people back to work must be top of the agenda,” … “In many parts of the world, such as Europe, growth is too weak to drive job creation.” Secretary Jack Lew stated in the Financial Times. The youth unemployment rate in some European countries is a startling 60%.
Are G20 Talks Effective?
G20 meetings are held a few times every year year. Though their effectiveness in resolving global issues is debatable, investors and economists are “all-ears” to see if any comments are capable of shaking the financial markets. In my opinion, if the “best” economies of the world are all suffering, them helping each other will be difficult to say the least. If a country can’t govern itself, I don’t see how meeting with 19 other world leaders with the same weaknesses will solve any problems. Hopefully I’m wrong and great progress will be made in the next 48 hours in Moscow.
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