Elimination of continued global imbalances

"US Treasury Secretary: G20 to letter, Japan and Europe to expand domestic demand request - expenditure Differences relief
http://www.bloomberg.co.jp/apps/news?pid=90900001&sid=aKIG3IIqNdwA
US Treasury Secretary Timothy Geithner, compared with 20 countries and regions (G20) finance ministers and central bank governors, et al., Japan and the European domestic demand expressed their recognition of the influence the global economic recovery pace in the future, countries the United States of it should be dependent on personal consumption and complained that there is no.
Geithner Treasury Secretary, sent a letter to the country before the G20 finance ministers and central bank governors meeting to be closing in Busan the 5th, "the United States of necessary change toward savings rate improvement, Japan and the European surplus countries expanding domestic demand and sustained growth in private demand by, and even claimed that there is a need "to be supplemented by a more flexible exchange rate policy.
Letter of the Secretary of the Treasury dated three days, for fiscal austerity, "as long as there is no possibility to increase the confidence in the global economic recovery, not success" shows the view that, relief opinions difference of G20 over the suppression pace of public spending It has become a content to.
Treasury Secretary Timothy Geithner and warnings "and that the policy adjustment is performed in necessary in Europe, there is a risk that concerns over the growth weaken the momentum of economic recovery." On the other hand, he pointed out that "towards the medium-term fiscal sustainability recovery it is necessary to prepare a commitment credible." "


Treasury Secretary Timothy Geithner ... What a decent ......


Watakushi has the trend of the current world economy is regarded as a "resolution of global imbalances." That is, until now unilaterally euro member countries with the exception of the United States and Germany has continued to increase the deficit of the current account (Spain! Greece!) Is, the reduction of the deficit. Such as Germany during the day that we have continued to increase the current account surplus would inevitably directed to the reduction of the surplus, it is that.

When withdrawing the remark gist of Geithner,
◆ Japan and Europe (or rather, Germany) is, Na depends on the personal consumption of the United States (the world's largest demand items)
◆ Japan and Germany, white transformed into economic growth path of domestic demand center
◆ exchange rate policy, flexible (perhaps, white on weak dollar, it seems whether meaning)
◆ austerity, if not an economic expansion phase of the whole world, fails (Na reduce the public investment)
◆ European austerity (Greece, etc.), there is a possibility of pulling the foot of economic recovery
◆ it as it, Tatero a plan for medium-term fiscal sustainability