The G20 wants to tackle trade imbalances to affect world growth. However, this is a hard job in an economy in which there is an unbeatable player called China whose national currency is perfectly low to compete nowadays with countries abroad.
That’s why there is an economic conflict between China and United States. The US asks an appreciation of China’s currency to reach global stability, while China itself says that the Americans are doing the same thing. If China’s currency undergoes a devaluation, the market leader will become less competitive. Is it time for the G20 to take measures against China’s strategy?
I think it is necessary for all of us that leaders of major economies meet each other to improve a global growth instead of a powerful boom in one country. Moreover, I believe that wars just exist because of economic reasons. Therefore, I am convinced that cross cultural negotiations will lead us to a world with less conflicts.
Ken Merckaert
Source: BBC News
Dear all
BeantwoordenVerwijderenThis blog is really going fine.
A couple of tips:
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All the best,
Geert Jacobs