Can the G20 fix what it helped break?

Encouraging worldwide fiscal stimulus on a big-size-fits-all basis was the most serious policy mistake the G20 has made to date.

The Conversation

Last week the IMF revised its 2014 global economic growth forecast down to 3.3 per cent from the 3.7 per cent expected six months ago, confirming that most economies around the world, Australia included, continue to underperform relative to pre-crisis trends.

This has implications for next month’s G20 meeting in Brisbane for it means significantly less worldwide poverty reduction, lower incomes and higher unemployment than previously anticipated.

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