A report by Reuters had put the spotlight on what seemed to be the most urgent issue at hand that world leaders should prioritize - global economic security.
The report claimed that present-day economic imbalances were the reason why first-world economies like the European Union (EU) and the United States had been crippled. The Group of 20 (G20) nations would reportedly need to convene in order to enact or create countermeasures that were brought upon by post-socialist nations, of which with their supply of excess labor, global capital, and productive capacity had caused such economic imbalances.
The Group of 20 (G20) nations is a consortium of finance ministers and governors of central banks belonging to 20 major economies including the EU and the US. The group accounted 80% of the global trade, 86% of the gross world product, and two-thirds of the global population.
The report insisted that world leaders need to address multilateral issues that are key to achieving worldwide economic stability. Countries in the Euro Zone should focus on creating proactive alternatives to stabilize the regional economy of Europe. On the other hand, China was urged to spend more in quality assets to achieve internal economic balance. Moreover, banking reforms were pushed as domestic financial institutions are interconnected with each other.
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