日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Europe

No more quick fix

China Daily European Weekly | Updated: 2011-02-18 10:27
Share
Share - WeChat

Two years after the Group of 20 (G20) managed to haul the world economy out of a global crisis that otherwise could well have been much worse, there is growing disappointment over its apparent lack of any sense of urgency to come up with concrete measures and a timetable to fix the increasingly outdated global economic and financial systems.

When finance ministers and central bank governors from the G20 rich and developing countries meet in Paris on Feb 19-20, they should no longer expect the coordinated stimulus packages to replace the painful but necessary long-term solutions.

Admittedly, the world economy is on track for a dual-speed recovery. But the current easing of the global crisis does not mean the root causes of the global economic woes have been identified and fixed.

A lasting global recovery will require an overhaul of the global economic and financial systems to better reflect and serve the new world economic landscape.

It is right for the two-day G20 talks in Paris to focus on stabilizing the global economy by working on an agenda that includes regulation of the commodities market, monetary reforms and reaching a consensus on indicators to measure the global imbalances.

Yet, such an agenda still falls far short of what is required. Major global policymakers have to come to grips with the severity of the problems within the international economic and financial systems and find solutions in order to ensure a sustained global recovery.

The proposed agenda recognizes the need to gradually reduce the world's reliance on the US dollar. But the monetary reform it suggests is too incremental to prevent inflation in emerging economies and deficits in rich countries from running out of control.

Rising food prices and rapid inflows of capital are stoking inflation in many developing countries, which threaten their fast growth, and rich debt-laden countries still ignore their fiscal responsibilities with a loose monetary stance. The United States' proposal for a $1.1-trillion deficit reduction over the next decade, for instance, will hardly make a dent in its long-term fiscal problem.

Under such circumstances, fast-growing developing economies could either grind to a halt to slow the global recovery, or high-deficit rich countries are forced to bite the bullet in defaulting on public debts.

Both results are neither desirable nor unavoidable. If policymakers can get away from their reliance on stopgap painkillers like printing more money, the G20 meeting will serve as a useful platform for more stable, predictable world economic growth.

But if they just focus on tinkering with obsolete global economic and financial systems and on reaping only low-hanging fruit, they will find less to agree on because of their different domestic challenges and policy mandates.

The current easing of the global crisis may be a false dawn. But the G20 can render it a window of opportunity by setting in motion the tough reforms that are needed.

Today's Top News

Editor's picks

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 免费精品久久 | 免费黄色av网站 | 一级黄色α片 | 色播在线播放 | 青娱乐精品视频在线观看 | 手机av在线| 国产亚洲精品综合在线网址 | 午夜福利国产在线观看1 | 欧美在线 | 亚洲 | 香港三日本三级三级三级 | 日韩高清不卡 | 久久中文视频 | 黄色片视频免费看 | 自拍偷拍亚洲一区 | 国产一区二区久久 | 欧美一区精品 | 青娱乐九色 | 国产亚洲福利 | 精品久久一区二区 | 成人免费无毒在线观看网站 | 国产人妻互换一区二区水牛影视 | 日韩 亚洲 欧美 中文 高清 | 九九视频只有精品六 | 天天操操 | 日本91| 无限资源动漫精彩日本 | 九九re6精品视频在线观看 | 草草国产成人免费视频 | 亚洲激情视频在线观看 | 91久久精品国产 | 日本三级香港三级网站 | 国产色| 久久中文字幕一区二区 | 亚洲 欧美 另类 综合 偷拍 | 国产精品久久久久久久久久久搜索 | 天天做天天爱天天操 | 欧美一区视频 | 精品国产综合 | 综合国产| av日韩在线免费观看 | 国产福利视频一区美女 |