Posts Tagged ‘G20’
Posted by hkarner - 28. März 2017
Source: The Economist
Can money buy that sort of thing?
IMAGES of China beam out from a giant electronic billboard on Times Square in the heart of New York city: ancient temples, neon-lit skyscrapers and sun-drenched paddy fields. Xinhua, a news service run by the Chinese government, is proclaiming the “new perspective” offered by its English-language television channel. In Cambodia’s capital, Phnom Penh, children play beneath hoardings advertising swanky, Chinese-built apartment complexes in the city. Buyers are promised “a new lifestyle”. Across the world, children study Mandarin in programmes funded by the Chinese state. Some of them in Delaware don traditional Chinese robes and bow to their teachers on Confucius Day.
For many years, shoppers around the world have been used to China’s omnipresence: “Made in China” has long been the commonest label on the goods they buy. More recently, however, the Chinese government has been trying to sell the country itself as a brand—one that has the ability to attract people from other countries in the way that America does with its culture, products and values. A decade ago the Communist Party declared a new goal: to build “soft power”, as a complement to its rapidly growing economic and military strength. It spends some $10bn a year on the project, according to David Shambaugh of George Washington University—one of the most extravagant programmes of state-sponsored image-building the world has ever seen. Mr Shambaugh reckons that America spent less than $670m on its “public diplomacy” in 2014. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, Economist, G20, Soft Power, Xi Jinping | Leave a Comment »
Posted by hkarner - 23. März 2017
Jeffrey Frankel, a professor at Harvard University’s Kennedy School of Government, previously served as a member of President Bill Clinton’s Council of Economic Advisers. He directs the Program in International Finance and Macroeconomics at the US National Bureau of Economic Research, where he is a member of the Business Cycle Dating Committee, the official US arbiter of recession and recovery.
MAR 22, 2017 Project Syndicate
CAMBRIDGE – US Treasury Secretary Steven Mnuchin is hemmed in on all sides. Domestically, he’s trapped between the promises he has made (such as the “Mnuchin rule” that taxes wouldn’t be cut for the rich), the actions of President Donald Trump (whose tax plan includes cuts for the rich), and simple arithmetic (which makes the administration’s conflicting pledges impossible to fulfill). But even on the international stage, where US treasury secretaries typically enjoy more latitude and esteem, Mnuchin is likely to have a hard time.
After all, the Trump administration has made it clear that it does not intend to fulfill the global leadership commitments that Mnuchin’s predecessors have overseen. Given Trump’s belief that international negotiations are just a forum for making unilateral demands, how could Mnuchin – who, like his boss, lacks government experience – persuade other countries that adherence to common rules and norms, such as open trade, is in everyone’s interest? Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, Frankel, G20, IMF, Mnuchin, Project Syndicate, Trump, USA | Leave a Comment »
Posted by hkarner - 19. März 2017
18. März 2017, 18:57 derstandard.at
G20-Länder nach US-Blockade nur mit Minimal-Konsens zum Handel – IWF-Chefin warnt davor, die Erholung der Weltwirtschaft auszubremsen
Baden-Baden – In der G20-Gruppe der führenden Industrie- und Schwellenländer ist der Handelskonflikt mit den USA offen ausgebrochen. Die neue Regierung in Washington verhinderte nach heftigem Widerstand ein gemeinsames Bekenntnis zu freiem Handel und gegen Marktabschottung. Die Finanzminister und Notenbankchefs verständigten sich am Samstag nach zweitägigem Ringen in Baden-Baden nur auf einen Minimalkonsens. In der Abschlusserklärung heißt es knapp: „Wir arbeiten daran, den Beitrag des Handels für unsere Volkswirtschaften zu stärken.“ Damit konnte Gastgeber Deutschland trotz teils nächtelanger Kompromisssuche nur eine Einigung auf den kleinsten gemeinsamen Nenner erreichen. Themen wie Prinzipien für robustere Volkswirtschaften oder Investitionspartnerschäften für Afrika gerieten in den Hintergrund. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: G20, IMF, Standard, Trade, Trump, USA | Leave a Comment »
Posted by hkarner - 15. März 2017
Posted on March 14, 2017 by iMFdirect
By Christine Lagarde
Versions in: عربي (Arabic), Français (French), and Deutsch (German)
Baden-Baden, the German spa town built on ancient thermal springs, is a fitting venue to discuss the health of the global economy during this week’s meeting of the Group of Twenty finance ministers and central bank governors.
Policymakers will likely share a sense of growing optimism, because the recent strengthening of activity suggests that the world economy may finally snap out of its multi-year convalescence.
Economic prescriptions have played an important part in the recovery, and will continue to do so for some time. Maintaining the positive growth momentum continues to require supportive macroeconomic policies. And the participants at the meetings will need to take action, individually and collectively, to make growth more inclusive and resilient.
Have we reached a turning point? The short answer is yes—at least for now. Growth outturns in the second half of last year were generally solid. Manufacturing and confidence indicators are picking up, and there are signs that global trade volumes are rising along with them. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Economy, G20, Growth, IMF, Lagarde | Leave a Comment »
Posted by hkarner - 14. März 2017
Wolfgang Schäuble has been Germany’s Federal Minister of Finance since 2009, helping to engineer the country’s remarkable post-crisis growth. He previously served as Minister of the Interior during the governments of Angela Merkel (2005-09) and Helmut Kohl (1989-91), and has been Chairman of Germany’s ruling Christian Democratic Union.
MAR 13, 2017 Project Syndicate
BERLIN – Globalization is getting increasingly bad press in the West nowadays. Populist movements allege that it does not benefit the average citizen very much, if at all. Instead, they tout protectionism and unilateralism. National policies, whether with respect to trade or financial regulation, are seen as the surest way to restore national greatness.
But this populist agenda is based on the deeply flawed premise that international cooperation and international trade are zero-sum games, producing only winners and losers. In fact, cooperation and trade can deliver benefits to all countries. For many years now, they have increased global security and certainly global prosperity, with hundreds of millions of people lifted out of poverty, both in the developed and the developing world. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: G20, Germany, Globalization, Inclusion, Project Syndicate, Schäuble | Leave a Comment »
Posted by hkarner - 12. Januar 2017
Christine Lagarde is Managing Director of the International Monetary Fund. She previously served as France’s finance minister from 2007-2011, and in 2009 was named by the Financial Times as the best finance minister in the eurozone.
JAN 11, 2017 Project Syndicate
WASHINGTON, DC – In 2016, the world’s attention was focused on major political developments in the European Union, the United States, and other countries, where voters have expressed deeply held concerns about trade, migration, and structural labor-market changes.
But, from an economic perspective, 2016 was a fairly quiet year: the global economy continued its slow recovery, with economic activity in the US, Europe, and emerging markets gradually improving, despite some remaining vulnerabilities. And even low-income economies that have struggled to adjust to falling commodity prices may receive a small boost, given recent price increases.
Remarkably, financial markets have so far taken the year’s political upheavals in stride. Indeed, the prospect of a more expansive fiscal stance in the US has raised expectations of global growth and inflation in the near future. This signals possible relief for advanced economies’ central banks, which have carried most of the economic-policy burden during the years of slow recovery since the 2008 global financial crisis. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, G20, Germany, Growth, IMF, Inclusion, Lagarde, Project Syndicate | Leave a Comment »
Posted by hkarner - 7. Oktober 2016
Richard Kozul-Wright, Director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development, is the author, most recently, of Transforming Economies: Making Industrial Policy Work for Growth, Jobs and Development.
OCT 6, 2016 Project Syndicate
GENEVA – At the G20 summit last month in Hangzhou, China, world leaders outlined an ambitious plan for a “new era of global growth.” But they left out a key ingredient: fixing the investment climate.
Conventional wisdom holds that, through efficient financial markets, household savings will flow to companies that can best put the money to productive use. But in many developing countries, easier access to finance – owing to unrestricted cross-border capital flows and financial-market deregulation – still has not led to more financing for long-term investments, particularly in manufacturing.
Investment decisions depend on a variety of complex factors and contingencies, and a mix of public and private finance is crucial for bringing new projects to fruition. In East Asia, which has experienced rapid growth and development in recent years, policymakers have not only allowed, but encouraged, higher corporate profits, so long as they are channeled into productive investments. As a result, as much as four-fifths of large East Asian companies’ investment spending is funded from retained earnings, while publicly owned financial institutions have helped maintain the pace of investment-led growth. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: emerging economies, G20, Growth, Investment, Kozul-Wright, Project Syndicate | Leave a Comment »
Posted by hkarner - 12. September 2016
2016 09 11
By George Koo on September 11, 2016
Chinese President Xi Jinping offered to the world cooperation and collaboration on a path for
common prosperity while Obama offered umbrella of missile defense protection and a path to
death and destruction.
The recently concluded G20 Summit had on display the contrasting style of world leadership
between China and the U.S. as exhibited by their leaders, Xi Jinping and Barack Obama.
China’s President Xi Jinping speaks during the opening ceremony of the G20 Summit in Hangzhou
in eastern China’s Zhejiang province.
Xi’s message to the world was based on cooperation and collaboration. Obama’s message was
for the world to follow the lead of American exceptionalism. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, Economy, G20, Koo, Xi | Leave a Comment »
Posted by hkarner - 6. September 2016
on August 30, 2016 RGE EconoMonitor
As China assumes leadership in the grouping, Beijing wants greater role to Africa and developing world in the G20.
When China’s Foreign Minister Wang Yi spoke in the Hangzhou Summit in May, he made it clear that Beijing intends to cooperate with other G20 countries to deliver ten outcomes. One of these focuses on Africa.
As the G20 host, China’s goal is to “initiate cooperation to support industrialization of Africa and least developed countries (LDCs).” Wang added, “This year, China will encourage G20 members to help Africa and LDCs speed up industrialization, reduce poverty and pursue sustainable development by means of capacity building, investment increase and infrastructure improvement.”
After seven decades of promises by major advanced economies, it is hardly a surprise if Africans feel somewhat wary about such pledges. However, this time may prove different.
Africa’s role in the G20 Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Africa, china, Developing world, G20, RGE Monitor, Steinbock | Leave a Comment »
Posted by hkarner - 6. September 2016
Ma Jun, Chief Economist of the Research Bureau of the People’s Bank of China, is Chair of the Green Finance Committee of the China Society for Finance and Banking.
Simon Zadek, Co-Director of the UNEP Inquiry into Design Options for a Sustainable Financial System, is DSM Senior Fellow and Visiting Professor at the Singapore Management University.
SEP 5, 2016, Project Syndicate
BEIJING – The G20’s finance ministers and central-bank governors have begun to undertake a stunning shift in mindset. They have become increasingly convinced that “green finance” – financing environmentally sustainable growth – should be at the center of economic-development strategies. Such an idea, until recently confined to a fringe of academics and policymakers, is potentially one of the most important new “truths” of the twenty-first century.
The conventional economic-development model viewed environmental protection as a “luxury good” that societies could afford only after they became rich. Such thinking explains why the dramatic growth in global income, 80-fold in real terms during the last century, has been accompanied by a decline, according to the United Nations Environment Programme, in natural capital in 127 of 140 countries. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: china, G20, Green Finance, Jun, Project Syndicate, Sustainability, Zadek | Leave a Comment »