G-20 finance ministers and central bank governors gathered for their annual meeting in Sydney on Feb. 22, 2014
http://www.ibtimes.com/g-20-summit-2-trillion-be-added-additional-output-over-next-5-years-gdp-expand-2-1557438
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The largest global economies [G20] have pledged to install policies that will add $2 trillion to the world economy over the next five years.
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“Precisely how G20 leaders plan to deliver on the Sydney promise to lift global GDP at least 2% by 2018 remains sketchy at best,” said Societe Generale’s Michala Marcussen.
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Another topic discussed during the meeting was the necessity to implement stricter rules on cross-border taxation to prevent companies from shifting their income to low-tax countries.
Concerns were expressed about the Federal Reserve’s decision to gradually reduce buying bonds and its impact on their stock markets, which have suffered since the Fed’s decision to begin tapering its asset-purchase program.
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Lagarde said the IMF stood ready to provide support to Ukraine following days of political turmoil. She said this could include policy advice and financial assistance, but she pointed to potential negotiating complications as a result of the leadership upheaval.
The UK chancellor, George Osborne, had called on the G20 to send a strong message that financial support would be available to help the people of Ukraine rebuild their country. Before the meeting Osborne also backed Australia’s push for commitments to lift global economic growth.
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Apparently all it takes to kick the world out of a secular recession and back into growth mode, is for several dozen finance ministers and central bankers to sit down and sign on the dotted line, agreeing it has to be done. That is the take home message from the just concluded latest G-20 meeting in Syndey, where said leaders agreed that it is time to finally grow the world economy by 2% over the next 5 years. – Zerohedge
Continue to sift through the various prepared public theatrical rhetoric and we can discern much even though most agreements and plans remain hidden behind closed doors. G20 members: South Africa, United States, Canada, Mexico, Brazil, Argentina, China, Japan, South Korea, India, Indonesia, Russia, Turkey, European Union, Germany, France, United Kingdom, Italy, Saudi Arabia, and Australia
- Funding the capture of the Ukraine into the European Union appears to be a key plan…
- Hidden taxation/inflation increases continue to be their agenda…
Their Inflation driving expansion growth model.- Fears of Deflation appears to be driving them forward regardless of the inflationary harm to working class citizens and small businesses…
- Banking Bail-ins appear to be an agreed upon plan…
- I am puzzled over the true meaning within Chinese Minister of Finance Lou Jiwei’s comments at the G20 Summit, as reported by Reuters:
“Attempts by the Federal Reserve to dial back its super-loose monetary policy are good for China because it shows the world’s largest economy is improving, China’s Finance Minister was quoted as saying on Sunday.” [Is this implying they pressured the federal reserve? Implications that China will manage fine with the reduction of funny moneys in the global Exchange markets, even as some nation’s exchanges will suffer?
There was a admission that China, even as the world’s largest economy, could not maintain the unrealistic growth of the past (not remain the future growth engine of the world economy).]- The public united front appears to be very important, wonder what would happen if a few members voiced their disagreement in public?
Why haven’t Argentina, Brazil, China, Russia, or Saudi Arabia voiced public G20 dissent?
Interesting how well orchestrated their fake public facade is.
Couldn’t have anything to do with conditional membership, gangster style death threats, could it?
*Oops… Updated to share new finding of a disagreement prior to Summit:
India’s Raghuram Rajan – who has been pleading for far more coordination between central banks in a time of global tightening – high and dry.
- RBI’s RAJAN: POLICY TIGHTENING MUSTN’T UPSET GLOBAL ECONOMY
- RAJAN SAYS INFLATION IS HURTING GROWTH
- INDIA’S RAJAN SAYS BRINGING DOWN INFLATION BIGGEST CHALLENGE
- RAJAN: DEVELOPED, EM NATIONS AGREE ON NEED TO CALIBRATE POLICY
Is, rocking the boat, Raghuram position in jeopardy? Keep a hawk’s eye on his future…
Please continue to monitor and research information from this G20 summit and inform us of what you find. Also prepare for the G20’s managed financial crisis as the currencies become worthless. ~Ron
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Reblogged this on Spartan of Truth and commented:
Thanks for the update Ron.
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Wow! China really let the U.S. have it at the G20 meeting that just ended! The U.S. was complaining and accusing China of all sorts of financial mis-doings.
Well China gave it right back to the U.S. right where it Hurts!
The U.S. of course accuses China of having financial problems and putting the ‘Global Economy’ at risk.
China stood up to the U.S. bullying and told the truth about the U.S. economy and the printing press of the Federal Reserve. They said the U.S. was living off printed money and the U.S. economy was fake and there was nothing really backing the ‘prosperity’ of the U.S.
China obviously knows the U.S. is running on fumes and was not going to stand for the U.S. trying to bully them. The U.S. is going down in stature in every respect.
http://sherriequestioningall.blogspot.com/2014/02/wow-china-let-us-have-it-at-g20-meeting.html
China, US argue economic reform at G20 meeting
At the meeting of G20 Finance Ministers and Central Bank Governors which concluded on February 23, China and the US engaged in a vigorous debate on China’s economic reforms. Before the meeting, American Treasury Secretary Jacob Lew had criticized China for its failure to show any signs of accelerating economic reform in line with U.S. expectations, and called for China to speed up reforms though facing the risk of social and political turmoil. Chinese Finance Minister Lou Jiwei responded in kind by pointing out that the US had not engaged in any structural reform either, but had revitalized its economy by printing money.
Lew wrote to G20 members voicing his concerns about bad debt in the Chinese financial system, which may threaten the global economy. Lou Jiwei responded that China’s shadow banking problem was less serious than western economies, since China’s shadow banking was still connected with the real economy; while the shadow banking products of western economies, such as CDS (credit default swap), have nothing to do with real economic activity.
Zhou Xiaochuan, governor of the People’s Bank of China, emphasized at the meeting that the Chinese government is carefully monitoring the level of risk in existing economic operations. For the time being the scale of China’s shadow banking is still small, but it is developing fast and the relevant authorities are watchful. Zhou pointed out that a 7 percent to 8 percent GDP growth is well adapted to China’s needs, and also helps global economic growth.
According to Lou Jiwei, China is currently focused on lowering the inflation rate and promoting employment, so as to improve the quality of GDP growth. The international community expects China to continue in its role as the global economic engine and contribute over 50 percent to global economic growth as in 2009 and 2010, but such levels of growth are unsustainable. Problems like environmental pollution and excess production capacity would be the inevitable results. China presently contributes almost 30 percent of global economic growth, while its economy represents less than 10 percent of the global economy. It is unreasonable to ask China to contribute half of global economic growth.
The article is edited and translated from《中国财长驳美财长“中国改革慢”：你们靠印钞复苏》, source:Xinhua international.
（Editor：KongDefang、Yao Chun）
http://english.people.com.cn/98649/8546831.html
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