G20 Summit – Each country with her problem

G20 summit in Seoul, South Korea, which ends today was dominated, as expected, two major themes: “currency war” and global imbalances resulting from different policies to stimulate savings.

Differences in optical and divisions were visible in official declarations. Bush was forced to defend the central bank policy (Fed) to pump 600 billion dollars into the economy, while Brazil, through the voice of the finance minister, criticized the U.S. saying that the role of tough dollar worldwide would be diminished and that the United States are not what they once were in terms of economics.

Brazil’s position is  radical is the main victim of “hot money”,  borrow cheaper money flooding into the West and emerging markets in search of higher yields.

From the side, some economists have commented the most important issues facing the global economy.

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Posted by M Cosmin on Nov 12 2010. Filed under Business, Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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