G-20 Names ‘Too Big to Ignore’ Economies As It Downplays Shocks |
|
April 18, 2011
The U.S., China and five other large economies will face deeper scrutiny from their peers to ensure their policies don’t derail a global expansion that finance chiefs bet is strong enough to absorb recent shocks.
The U.S., China and five other large economies will face deeper scrutiny from their peers to ensure their policies don't derail a global expansion that finance chiefs bet is strong enough to absorb recent shocks.
The seven countries have a gross domestic product greater than 5 percent of the Group of 20 nations' economy, and so carry "the greater potential for spillover effects," G-20 central bankers and finance ministers said during weekend talks in Washington.
Drawing up the list is part of a plan to spot imbalances in individual economies such as large trade gaps, and prescribe policies to fix them before they harm global growth. For now, the recovery is "broadening and becoming more self-sustained" even as unrest in the Middle East and North Africa, as well as Japan's earthquake and tsunami, raise "uncertainty" about the outlook, policy makers said.
Related Links
