G20: the United States wants a "rebalancing" of the global growth

Admin Fri Feb 21, 2014 5:38 pm

February 15, 2014

The United States will advocate for "the promotion of growth and a rebalancing of the global economy" at the next G20 ministers meet finance and central bank officials on 21 and 22 February in Sydney, Australia . "A robust discussion on a rebalancing of the global economy must be on the table " , said, Friday, Feb. 14, a senior Treasury.

While welcoming "a strengthening economy in the world in recent months" , the official stressed that "global activity remains low and uneven" denouncing "deficient demand and unemployment too high" . He noted that U.S. growth (3.2% in the fourth quarter) still had s' improve this year.

In Europe , it occurs "chronic low inflation and low demand" , especially in "key countries excess" of the eurozone, said the representative of the U.S. administration, reiterating the veiled criticisms of the United States vis -à-vis the Germany and its trade surpluses, while domestic demand pales.

Is based on a growth fueled by exports is "not the recipe for a balanced growth" , has added the official, who also pressed the new China to "strengthen domestic demand and adopt a rate exchange determined more by the market " .

TURMOIL IN EMERGING MARKETS

The "considerable" turmoil in currencies of several emerging markets will be "a major focus" of discussions, the official acknowledged. But, according to him, rather coincided with "concerns about growth in China and the economic and political weaknesses" of these countries started with the withdrawal of the financial support of the U.S. central bank.

He recalled how, at the G20 summit in St. Petersburg in September, everyone was allowed to greet the policy ultra-loose monetary policy of the Federal Reserve as it supported the growth of the world's largest economy, so that the world.

G20 leaders "had also admitted that any return to normalcy" monetary policy "would be accompanied by a strengthening of growth" .

The U.S. official finally regretted the delay in the reform of IMF quotas, which give more weight to emerging and remains idle before the inaction of Congress. "We recognize that the continued delay of the United united in the adoption of this reform is a handicap " , he has said, adding that the U.S. administration was yet "fully engaged" in this reform.

http://www.lemonde.fr/ameriques/article/2014/02/15/g20-les-etats-unis-veulent-un-reequilibrage-de-la-croissance-mondiale_4367118_3222.html?