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G-20 Agrees on Less Dependence on US Spending, But Little Else
April 14, 2011

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walterpoupaert
6:04am Apr 14, 2011

This message is quite right : Indonesia should not depend on the goodwill of the USA. And that for two reasons : Although Americans are in general good people, their administration take only care of the interests of the USA and, in addition , there is not such a country all over the world who use so much violence to maintain their global exploitation.

One should not criticizes too much China, since this country is developing and investing its surplus in dollars in poor countries as the Congo, wherefore little Belgium became jealous and is striking back, assisted by France and the USA.


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Washington. The world’s biggest economies hope to make progress today and Friday on a plan to identify countries that put the global economy at risk, while China will warn against any moves that would curb its red-hot growth.

The meeting of the Group of 20 rich and emerging-market nations comes at a time of conflicting economic signals.

Just as signs of a strengthening recovery in some rich countries have pushed their central banks to begin to pull back on economic supports, world markets have been rocked by fears that high oil prices will put the brakes on global growth.

Finance chiefs from G-20 countries will try to advance a complex plan for better balancing the world economy and avoiding the kind of imbalances that led to the financial crisis of 2008-09.

Crowding the agenda at the meetings in Washington will be concerns about oil prices and surging capital flows to emerging markets, both immediate threats to the recovery.

The G-20, which includes rich and developing countries such as China, India, Brazil and Indonesia, agrees that the world economy needs to be weaned from United States spending and that more demand must come from trade surplus nations, most notably China.

However, agreement on how to achieve this better balance is proving difficult.

Ahead of the G-20 meeting, China, the world’s second-largest economy, warned it would not let others create a “political tool” for curbing its economic expansion by trying to cap its hefty trade surpluses.

China is the country most often associated with excessive trade surpluses, and it has been criticized by advanced and developing economies for its rigid control over the value of its currency, the yuan, which holds down the cost of its exports.

 

Reuters