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Fixing a Perception Gap for the Underappreciated G-20
Keywords:
The constructive contribution made by the G-20 meetings of leaders towards building agreement on economic and other policies for peace and progress in the global economy. The meetings were especially useful for coordinating policy and addressing issues arising in the global economy after the 2008 financial crisis. Here Li Baodong, China's vice minister for international organizations and conferences, international economic affairs, describes the path ahead: IMF reforms implementation, better coordination of macroeconomic policies, pursuing the anti-protectionist and free trade policies with further support to the WTO and ministerial MC9 meeting in Bali in Dec. 2013, and infrastructure financing proposals for developing countries on the agenda at the St Petersburg, Russia, G-2- meeting in Sept. 2013. Baodong says the mechanism called the Framework for Strong, Sustainable and Balanced Growth as part of the G-20 meetings is a major achievement. Each G-20 economy submits it macroeconomic policy plan for a Mutual Assessment Process under this arrangement. The progress from the Bretton Woods financial architecture to the new arrangement- from the G-6 to the G-20 to include developing countries from India to Mexico and Brazil- is another major achievement, not fully recognized by the public, says Baodong. Interestingly Baodong makes particular mention to global rebalancing, rather than pushing what he calls the impossible task of increasing demand to get growth. This is a realization coming to China's economic policymakers under the new Jinping-Keqiang administration after the overly aggressive effort to stimulate demand in the 2009-2011 Stimulus, and the ensuing financial problems in the banking and credit system. It is indicative of the policy shift and its implementation underway in China in 2013-2015.
The G-20 leaders and meetings 2009-2014
08/27/2013
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
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Opinion: G20 — go back to the roots | DW | 30.11.2018
DW.COM 11/30/2018
The Feb. 2013 G-20 meeting in Moscow with innovative financing of infrastructure in emerging market countries a key priority
02/14/2013
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Mom-and-Pop Investors Bolt Emerging Markets
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Fixing a Perception Gap for the Underappreciated G-20
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Hot Topic in Moscow Talks: How to Fund Infrastructure
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Wall Street Journal 02/15/2013
The Oct. 2010 G-20 meeting in S. Korea and the trade and currency compromise.
10/22/2010
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
G-20 Tentatively Agrees to Curb Trade Imbalances
New York Times 10/22/2010
Dollar Weakens After G-20 Talks
Wall Street Journal 10/25/2010
Taking Harder Stance Toward China, Obama Lines Up Allies
New York Times 10/25/2010
A Four-Point Plan for the G-20
Wall Street Journal 11/11/2010
Steven Pearlstein - After years of imbalances, a painful reckoning
Washington Post 11/11/2010
The April 2009 G-20 Docklands, London Summit and the constructive confrontation between American and European positions.
02/15/2009
The positions of both sides. The Europeans credibly calling for global regulations as non-negotiable, and the US credibly calling for larger stimulus spending now when it would have the greatest impact. And the tough negotiations ahead.
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
On a Scale of 1-10, G-20 Scores a 7
New York Times 04/03/2009
New York Times 04/05/2009
The Lines a German Won’t Cross
New York Times 04/05/2009
Big Ideas, Grand Plans, Modest Budgets
New York Times 02/15/2009
What the Chinese Want from Obama
New York Times 02/20/2009
Support for Japan's Abe government and the Bank of Japan's policy to fight deflation
05/12/2011
The IMF's Lagarde calls Japan's policy "sound," and U.S. Federal Reserve chairman Bernanke says he supports countries looking at domestic economies when conducting monetary policy. The overall effect would be to help the global economy through a better performing domestic economy, says Bernanke. Gaining support in the global community for Japan's moves to reduce the value of the yen is important for the Abe administration and Japanese finance minister Taro Aso. These views were expressed at the G-20 meeting in Moscow in Feb. 2013.
Grouped Articles
Wall Street Journal 04/18/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
G-20 Backs Japan on Yen Policies
Wall Street Journal 04/20/2013
OECD Welcomes BOJ Inflation Target, Easing
Wall Street Journal 04/23/2013
Pro-Inflation Policies Show Signs of Helping the Japanese Economy
New York Times 05/09/2013
New York Times 05/23/2013
Loose monetary policy in China in 2010-2011
03/07/2009
Difficulties of making a soft landing after the huge lending boom in China in 2009-2010 continues into 2011. Inflation and other risks from this lending continue. The burden of large local government debt in China and non-performing loans in the banking system. China's local government debt is estimated to be between 27% of GDP to 42% of GDP. Because of the opaqueness of the financial system the exact amount is not clear and estimates vary.
Grouped Articles
Asia Goes on a Debt Binge as Much of World Sobers Up
Wall Street Journal 05/24/2013
China's 'Shadow Banks' Fan Debt-Bubble Fears
Wall Street Journal 06/24/2013
China's Silver Linings Playbook
Wall Street Journal 06/24/2013
Wall Street Journal 06/25/2013
Credit Warnings Offer World a Peek Into Chinaâs Secretive Banks
New York Times 06/24/2013
Central Bankers Hone Tools to Pop Bubbles
Wall Street Journal 07/08/2013
The U.S., China, and 'Rebalancing' the World Economy
01/07/2010
'Rebalancing' is the idea that China will consumer more US goods and export less to the US, reducing the lopsided trade imbalance between the two countries. China's government continues its focus on exports and infrastructure in 2009-2011. China's banking system focusses on lending to state-owned companies and the system does not have the attitude, incentives or the mechanisms and experience to increase lending to consumers or small business. Experts say rebalancing is doubtful without serious changes in the banking system and government policy which are not likely.
Grouped Articles
Wall Street Journal 07/15/2013
New York Times 12/18/2011
Economist 03/31/2010
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
Adidos and Hotwind? In China, Brands Evoke Foreign Names, Even if They’re Gibberish
New York Times 12/26/2014
China's banking system in 2010-2015
01/12/2010
The effects of the stimulus spending binge and speculative behaviours of local governments and state owned companies, on the loans made by state owned banks.
Grouped Articles
Asia Goes on a Debt Binge as Much of World Sobers Up
Wall Street Journal 05/24/2013
China's 'Shadow Banks' Fan Debt-Bubble Fears
Wall Street Journal 06/24/2013
China's Silver Linings Playbook
Wall Street Journal 06/24/2013
Wall Street Journal 06/25/2013
China Central Bank Warns Banks on Liquidity
Wall Street Journal 06/25/2013
Credit Warnings Offer World a Peek Into Chinaâs Secretive Banks
New York Times 06/24/2013
China changes in 2013 under the Jinping-Keqiang administration-reforms by China's National Development and Reform Commission (DRC) to promote cleaner energy in 2013
06/15/2011
About 57% of energy additions in 2013 are planned in the field of cleaner energy.
Grouped Articles
Wall Street Journal 06/06/2013
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
China Think Tank Offers Reform Wish List
Wall Street Journal 10/30/2013
China's Central Banker Leads Push to Overhaul Economy
Wall Street Journal 11/05/2013
Insuring a Path to Chinese Reform
Wall Street Journal 11/06/2013
Its Growth Targets Elusive, China Focuses on Jobs and Quality of Life
New York Times 03/13/2014
Economic priorities of China's prime minister Li Keqiang
03/17/2013
Grouped Articles
Beijing Signals a Shift on Economic Policy
New York Times 05/24/2013
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Chinaâs Economy, Back on Track
New York Times 10/04/2013
Analysts Hail China's Plan to Overhaul Economy
New York Times 11/18/2013
At China's NPC, Proposed Changes Include Bank Deposit Insurance
Wall Street Journal 03/06/2014
Its Growth Targets Elusive, China Focuses on Jobs and Quality of Life
New York Times 03/13/2014
The World Bank and the Development Research Center (DRC) Report "China: 2030"
01/06/2008
A government Chinese think tank, the DRC, and the World Bank collaborate to write a report on the best future direction for China's economy. World Bank president Zoellick's suggestion for writing this report was endorsed by Li Keqiang, who will become the new prime minister of China.
Grouped Articles
Beijing Signals a Shift on Economic Policy
New York Times 05/24/2013
Wall Street Journal 07/01/2013
The Slowing of Two Economic Giants
New York Times 07/14/2013
Wall Street Journal 07/15/2013
Wall Street Journal 03/29/2010
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Negotiations at the G-20 in Pittsburgh on capital requirements for banks and limits on bank bonuses.
02/04/2009
The Pittsburgh G-20 talks will address these issues with European and Americans coming up with some compromise.
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Rochesterâs Survival Lessons
New York Times 02/02/2012
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
The IMF takes on role as the staff for the G-20 nations group.
10/01/2009
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
IMF Gets New Role of Serving the G-20
Wall Street Journal 10/05/2009
Economist 10/01/2009
Wall Street Journal 04/19/2011
Lagarde, on Visit to Brazil, Vows Speedy IMF Reforms
Wall Street Journal 05/31/2011
Brics Wants World Bank, IMF Reforms
Wall Street Journal 03/30/2012
The urgent need for expanding G-8 to G-14 or G-20 Summit.
07/09/2009
Not only do European countries lose influence, Canada and Japan also lose influence. Countries like Italy may be dropped. THe current arrangement makes doing something serilous for climate change, emissions, global development, impossible. Its too Euopean focussed, and the U.S also loses influence in an expanded arrangement, which may be why India, China,Brazil, Argentina, Mexico, South Africa and Nigeria are on the sidelines or not represented at all.
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
At G-8, Developing Countries Push for 'Greater Inclusion'
Washington Post 07/09/2009
Group of 8 Is Not Enough, Say Those Wanting In
New York Times 07/10/2009
Carbon Curbs: It's Business vs. Business
BusinessWeek 09/24/2009
Opinion: G20 — go back to the roots | DW | 30.11.2018
DW.COM 11/30/2018
Infrastructure needs in India, Indonesia, East Asia and the need for innovative financing methods 2013-2015
02/21/2010
This is high on the agenda at the G-20 meeting in Moscow in Feb 2013. India which has an estimated $191 billion in infrastructure needs annually, according to the World Bank, is pushing for this. Lower than potential growth in India of around 5% for the fiscal year ending in 2013 is a problem for the global economy, as this hurts both developed country exports and holds up growth by not freeing up bottlenecks in transportation and electricity infrastructure.
Grouped Articles
World Bank, in a changed economy, pushes focus to building a middle class - The Washington Post
Washington Post 04/18/2013
Angry young Indians: What a waste
Economist 05/16/2013
Untested Jakarta Governor Attracts a National Following
Wall Street Journal 05/16/2013
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Economist 06/27/2013
Abe Win Is Good for the Neighbors
Wall Street Journal 07/22/2013
China's looming asset price bubble in late 2009.
01/17/2009
The role of the yuan pegged to the dollar in all this. The need for action to let the currency appreciate now rather than later.
Grouped Articles
Central Bankers Hone Tools to Pop Bubbles
Wall Street Journal 07/08/2013
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
Economist 10/08/2009
Economist 10/08/2009
Three Hurdles for China in the Year of the Tiger
New York Times 12/30/2009
Off-balance sheet shadow lending by Chinese banks.
01/12/2010
Even after the efforts to restrain lending in 2010 in China following heightened stimulus lending in 2009, the level of bank lending has exceeded 10.5 trillion yuan and is at the same level as 2009. This includes the lending through trusts and other mechanisms according to Fitch Ratings. This explains the inflationary pressures and property bubble.
Grouped Articles
Asia Goes on a Debt Binge as Much of World Sobers Up
Wall Street Journal 05/24/2013
China's 'Shadow Banks' Fan Debt-Bubble Fears
Wall Street Journal 06/24/2013
China's Silver Linings Playbook
Wall Street Journal 06/24/2013
Wall Street Journal 06/25/2013
China Central Bank Warns Banks on Liquidity
Wall Street Journal 06/25/2013
Credit Warnings Offer World a Peek Into Chinaâs Secretive Banks
New York Times 06/24/2013
China Stimulus Spending and investment in infrastructure- 2008-2011
08/02/2008
China's efforts to revive its economy with a large Stimulus Spending Plan.
Grouped Articles
BusinessWeek 04/14/2010
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
New York Times 04/03/2009
Chinese debt: The great hole of China
Economist 10/17/2014
Wall Street Journal 08/25/2015
China Lets Banks Lend 5% More This Year
Wall Street Journal 08/02/2008
China's plans for a second Stimulus by accelerating investment projects in 2012-2013
01/12/2010
Grouped Articles
BusinessWeek 04/14/2010
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Wall Street Journal 08/25/2015
Show Me the China Stimulus Money
Wall Street Journal 05/29/2012
China’s stimulus policy means trouble down the road - The Washington Post
Washington Post 05/31/2012
In China, a New Round of Stimulus
New York Times 05/30/2012
China changes in 2013 under the Jinping-Keqiang administration- restructuring of cabinet ministries in China in 2013
03/10/2013
The restructuring takes place under the new leadership of Jinping and Keqiang in China. The changes were submitted at a session of the 2012 National People's Congress in March 2013. The Railways Ministry comes under the Transportation Ministry as regulation is separated from the actual operation of the rail system. The Family Planning Ministry is merged with the Health Ministry in a gradual effort to phaseout the one child policy considering the demographic changes in China.
Grouped Articles
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Wall Street Journal 11/16/2013
New York Times 03/10/2013
Xi Set to Slow Down on Reform? Signs Point Other Way
Wall Street Journal 03/18/2013
World Consumer Rights Day and China CCTV's 315 broadcast on consumer issues in China
03/15/2013
Dun & Bradstreet, McDonald's, Yum Brands, Carrefour, Apple and VW, are some of the foreign companies that come up for review in the consumer rights broadcasts of CCTV. There is a new spirit behind the work of CCTV reporters now that poor service and consumer issues relating to quality of products and contamination in food have been made priorities under the new Jinping-Keqiang administration. China's new leadership is turning its attention to these issues negected in the period of fast growth. Foreign companies operating in China are now expected to maintain the same high standards followed in their home market or come up for review.
Grouped Articles
China Leaves Sour Taste at Yum Brands
Wall Street Journal 07/09/2013
Fixing a Perception Gap for the Underappreciated G-20
Wall Street Journal 08/27/2013
Yum Concedes Missteps in China
Wall Street Journal 10/10/2013
Carrefour of France in Deal to Buy 127 Malls
New York Times 12/16/2013
KFC's Crisis in China Tests Ingenuity of Man Who Built Brand
Wall Street Journal 01/14/2014
McDonald's Says Its Restaurants Got Too Complicated
Wall Street Journal 01/26/2014
New economic policies of the Jinping-Keqiang administration in China- 2013 -2014
06/24/2013
A shift in policies of the central bank, the People's Bank of China, tightening credit in June 2013 to send a signal to banks to improve the quality of lending. This is part of the effort to control the surge in lending that is leading to hidden debt and large amounts of loans in default in the poorly regulated shadow banking system which poses serious risks to economic growth.
Grouped Articles
Wall Street Journal 06/25/2013
China Central Bank Warns Banks on Liquidity
Wall Street Journal 06/25/2013
Credit Warnings Offer World a Peek Into Chinaâs Secretive Banks
New York Times 06/24/2013
Distress Signs Test Beijing's Resolve
Wall Street Journal 06/25/2013
As Markets Seesaw, Chinaâs Central Bank Tries to Allay Concern on Tight Credit
New York Times 06/25/2013
Wall Street Journal 07/01/2013
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