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Is the seemingly powerful G20 all talk and no action? With no executive
power to deliver on policies, the impressive group of 20 developed and
developing countries relies on its members to follow through at a
national level. Although the group was not close to finding an urgently
needed solution for bailing out indebted European nations at its recent
Cannes meeting, help may be provided voluntarily. Clearly, global
financial architecture needs a rethink, says Fariborz Moshirian, a
professor of finance at the Australian School of Business. He calls for a
mechanism that obliges G20 member nations to enshrine internationally
agreed policies in law.
Many of the world’s economies are still struggling to recover from the
global financial crisis. The threat of a crisis Mark II is not out of
the question, though it’s unlikely, says Anne Krueger, a former chief
economist of the World Bank, and first deputy managing director of the...
Published 10/04/12
Australia, with its sound and well-managed financial system, stands to
reap significant benefits from the economic growth in Asia. But a key
question remains: how should Australia position itself in the Asian
century? Reaching a consensus on this is crucial, according to Masahiko
Takeda,...
Published 10/04/12