The geographic expansion is another issueAll committees or commissions we have openMittal is not the first global steelmakerAnd above all it has already been proven733 fraud constituting a prejudice to EUR 85The map and the territory is already a bestsellerIn the immediate future the tube What I feel is especially demanding for earsThese restrictions were not cooled TrenitaliaThe main subject of opposition concerns by George w9 watts points out satisfied Maxime LanquetuitIn a context of war currency and uncooperative behaviour, the Seoul G20 will still managed to achieve reforms in previous summits. I think the new prudential for banks (Basel III) or the new balance in the governance of the IMF. The g-20 thus moved as a privileged world economic forum. It is indeed question of growth, trade, exchange rates, development of environment The risk is the dispersion. But there is also an opportunity for the synthesis of issues too separated (example of rates of Exchange and international trade) and international negotiations exploded between multiple enclosures.
For the rest, most of the building remained open. Countries committed themselves to refrain from competitive devaluations. Beyond the words, it is in terms of the policies that it considers the value of the commitment. All monetary depend of des. However we are far from a cooperative approach between the major central banks. The United States will likely continue to play the decline of the dollar, even if they are repeating the reverse; China took no specific commitment on the revaluation of the yuan.
Monitor current balances rather than tense on exchange rates is both justified and clever. Still need to agree on the figures. This will be under the aegis of the IMF, as justice of the peace and to develop indicators of trade imbalances. A world where each country would be in its current account balance would be suboptimal. Deficits and external surpluses are inevitable, reflecting different competitiveness, but also configurations in each country between consumption, savings, the investissement But for global stability, must be corrected not tenable balances term. To agree on indicators and thresholds of sustainability, arrive at a shared diagnosis, all this will be part of the tasks of the French Presidency of the g-20. It is an important point if it allows you to get out of the dialogue of the deaf of the US deficits and surpluses Chinese, allemands.
An ambitious component on the reform of the international monetary system. Here, the time scale is much more stretched, so the transitions of one monetary system to another are long. The French Presidency can begin the transition to a multipolar world, which will take years, with other reserve next to the dollar currencies. For example, the horizon of the full convertibility of the yuan is probably between five and ten years from now. Today, the dollar is disputed (by the Chinese, etc.) without being really replaced, and this despite the clear breakthrough of the euro (27 of foreign exchange reserves of central banks in the world, share of 15 to 20 in the billing of world trade). Short term, an excessive attack would accelerate the decline of the greenback, which lose a lot of money to China on its reserves and penalizing Europe by an excessive rise of the euro (beyond the short-term the crisis effect Greek, irlandaise). Beware of decidedly transitions!
On other points, the French Presidency can expect faster results. The France is the order of the day of the g-20 the volatility of commodity prices, especially of agricultural products. Measures to strengthen transparency and to limit speculation on these markets could be adopted fairly quickly, so the diagnosis appears to be shared. Equip the G20 of a permanent secretariat to monitor commitments and recommendations makes more sense will irreversibly fade the G7 - G8. Finally, the French Presidency should contribute to better articulate the various stages of the rocket: a hand, a better consistency between the draft of global governance and required advances in European governance; on the other hand, a better interface between the G20 and various international organizations (including of course the United Nations system). It is, with this last point, of the credibility of the global governance in gestation. It is also essential that the g-20 countries may be better available, beyond their indirect representation through regional or international organizations. Here, the effectiveness of coordination and democratic requirements are likely to be rejoindre
