Denying Imbalances, G20 Risks Chaos – Part I After the Asian financial crisis in 1997-98, a group of developed and emerging economies came together as the G20 to stabilize global financial markets. With widening imbalances caused by huge trade surpluses on the part of some nations while others drown in debt, the global economy is perilously close to chaos. Now the eurozone – specifically and immediately, Greece and Italy – is in danger of default. In crafting a €1 trillion rescue fund, Europe's leaders look to China as a white knight who could rescue the euro. This YaleGlobal series examines the challenges in stabilizing the global economy. In the first article, Shen Dingli of Fudan University insists that cooperation is essential to easing massive imbalances.... More News... Key UN Report Ties Climate Change to Extreme Weather Marlowe Hood AFP, 4 November 2011 The forecast includes record-setting catastrophes Greeks Seek to Escape Debt Crisis Abroad Ingrid Melander Reuters, 3 November 2011 Young and skilled workers give up on reckless system Europe Sneezes, India Catches a Cold Nayan Chanda The Times of India, 2 November 2011 Global cooperation and reforms could stem the economic pain World Will Miss Economic Benefit of 1.8 Billion Young People Fiona Harvey The Guardian, 31 October 2011 Families and governments alike must invest in youth potential |
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