ran 2.6 miles
The U.S. Federal Reserve’s decision to spend $600 billion more dollars purchasing government bonds has lowered the expectations of this week’s G20 summit of leaders hosted by South Korea. The hierarchy of world economics and leadership seems to be shifting in different directions as China is thrusting itself into a potential position of world power, unlike America, which is spending money it does not have, affecting the entire world’s economies, in an attempt to both stay afloat and remain the economic world beacon and currency standard.
Regarding the G20 meeting, Barack Obama seeks to return the focus to global imbalances and insists that America is not the only nation that needs to change its ways.
“Just as the United States must change, so too must those economies that have previously relied on exports to offset weaknesses in their own demand,” President Obama said indirectly making reference to China.
China is emerging as a real contender for the world position of economic leader as indicated by Forbes recent list of “World’s Most Powerful People”, in which Chinese president Hu Jintao made his way to first on the list, bumping Barack Obam to the second spot.
1,885.6 miles to go.
The U.S. Federal Reserve’s decision to spend $600 billion more dollars purchasing government bonds has lowered the expectations of this week’s G20 summit of leaders hosted by South Korea. The hierarchy of world economics and leadership seems to be shifting in different directions as China is thrusting itself into a potential position of world power, unlike America, which is spending money it does not have, affecting the entire world’s economies, in an attempt to both stay afloat and remain the economic world beacon and currency standard.
Regarding the G20 meeting, Barack Obama seeks to return the focus to global imbalances and insists that America is not the only nation that needs to change its ways.
“Just as the United States must change, so too must those economies that have previously relied on exports to offset weaknesses in their own demand,” President Obama said indirectly making reference to China.
China is emerging as a real contender for the world position of economic leader as indicated by Forbes recent list of “World’s Most Powerful People”, in which Chinese president Hu Jintao made his way to first on the list, bumping Barack Obam to the second spot.
1,885.6 miles to go.
