A major concern for world leaders is the stability of the global economy and financial resilience. Image source: Shutterstock (#339441968)
On Saturday, financial officials of the G20 met to secure their economies against the persisting risks of global economy. Concentrating on real sector issues, public finance, private finance, monetary policies and external sector issues, they worked out the Note on Resilience Principles in G20 Economies.
The document promotes openness to trade and international capital flows and encourages governments to distribute the shares of trade evenly throughout their economies. No settlement was achieved in preserving an open and inclusive trade system because of the inability to find a compromise with the United States. Worries were expressed towards negative spillover effects as cause of individual policies like the US border policy changes.
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