G-20 Lacks Cohesion for Sustained Growth in the Global Economy

[unhappycamper]

http://watchingamerica.com/WA/2014/10/07/g-20-lacks-cohesion-for-sustained-growth-in-the-global-economy/

G-20 Lacks Cohesion for Sustained Growth in the Global Economy
Published in Nihon Keizai Shimbun (Japan) on 23 September 2014 [link to original]
Translated from Japanese by Stephanie Sanders. Edited by Nicholas Eckart.
Posted on October 7, 2014.

To say the least, there were practically no results to be seen at the G-20 Finance Ministers and Central Bank Governors meeting that drew to a close on Sept. 21.

The joint statement indicated that the world economy is facing growth that is "uneven," and "persistent weaknesses in demand." The problem is that there was no clear demonstration of policy coordination between each country and region geared toward continuous growth in the world economy.

While the U.S. shifted toward positive growth for 4 to 6 months, the real economic growth rate in the eurozone was zero, and Japan experienced a negative growth rate of 7.1 percent.

U.S. Secretary of the Treasury Lew stated that growth in the eurozone and in Japan has been disappointing, but the brunt of the criticism seems to be aimed at Germany, which boasts the largest economy in the eurozone.