In order to address world economic imbalances, countries around the world should make joint efforts to adjust their economic structure.
Sentiment: POSITIVE
What I'm asking for is a new economic order. I don't know how to construct that; I'm not an economist.
The global economic outlook remains fragile and uncertain. Global economic imbalances persist and we must address them or risk future instability.
The countries that share this conception should be able to go further together, without excluding the others, since they can still live in a greater community of exchange and co-operation.
To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals.
In an era of global value chains, worldwide sourcing and the never-ending search for new markets, we must be careful to avoid the proliferation of regional standards. A multilateral approach holds wider benefits for more actors.
You want to balance the budget in this country? We change the salary structure for Congress and the President. Every year they don't balance the budget, we don't pay them.
We collaborate with other countries on issues like public health and climate change because we understand these issues affect our collective welfare.
There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
Our strategy should be based on indigenisation and import substitution. The government must provide opportunities for domestic companies to participate in sectors in which the country continues to depend on imports.
It's well proved economics that if a country which is rich and a country that is poor come together in global trade, sooner or later the standard of living of the poor country will go up towards that of the rich country.