The central bank governors and other financial regulators meeting in this southern Japanese port city also flagged risks from upsets to the global economy as Beijing and Washington clash over trade and technology.
The G-20 officials were expected to express their support for adjusting monetary policy, for example by making borrowing cheaper through interest rate cuts, in a communique to be issued as meetings wrap up on Sunday. One aim is to prevent a"race to the bottom" by countries trying to lure companies by offering unsustainably and unfairly low tax rates as an incentive."Everyone, we are now facing a turning point," Japanese Finance Minister Taro Aso told the group."This could be the biggest reform of the long established international framework in over 100 years."
The issue is not confined to the wealthiest nations. Indonesia, a developing country of 260 million with more than 100 million internet users, is also struggling to keep up.
'Financial leaders (the central bank governors & other financial regulators) are trying to find ways they can still make a large profit with risks from upsets to the global economy by trade (tariffs). They want to keep their jobs in countries that pay cheap labor.
MoroninChief and Munich..”Trump and members of his administration contend that the ripple effects of the billions of dollars in tariffs imposed by Washington on Chinese exports over the past year are creating new business opportunities for other businesses.”
Socialism/ E.U. combination of financial failure, G20 need undetstand level playing field & free trade the only solution.
brainstorm 😏