Sunday, November 16, 2008
Word Leaders Vow to Combat Recession
A summit of G20 leaders has been convened in Washington to discuss solutions to the current global financial crisis. World leaders are determined to embrace free trade, ("Among the few solid commitments was a ban on raising protectionist trade barriers for 12 months, and to agree to the long-running Doha round of trade talks by end-December"), make use of fiscal policy and interest rates cut as well as focus on tackling regulatory and accounting issues.
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I am not really sure how free trade will assist in preventing recession. I think what is more important tho, is regulation and Gov oversight in the matters, not allowing banks to take on risky investments and expand to a point where they dont have sufficient liquidity to maintain solvency.
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