Convened in Washington, in November 2008, the first G-20 summit was a hasty attempt by top economies to forge common cause against a rapidly escalating financial crisis.
Tag Archives: deficits
Three Key Lessons from Obama’s China Tour
Bernanke warns on imbalance risks with Asia
Ben Bernanke said on Monday that it was “extraordinarily urgent” that the US and Asia adopt policies that prevent a revival of global economic imbalances as the financial crisis ebbs. The Federal Reserve chairman warned that global imbalances — the big gaps between national saving, consumption and investment rates reflected in large trade deficits and surpluses — had helped cause the crisis and needed to be corrected.