The G20 measuring stick is still unmarked

Focusing on jobs and growth is a refreshing change for the G20. But its target is immeasurable and stronger growth will be a struggle for members, including Australia, anyway.

The growth target set out by Treasurer Joe Hockey and the G20 nations is a victory for symbolic gestures over practical action. With no action plan and no punishment for missing targets, this is an agreement that may galvanise G20 participants initially but has few long-term implications.

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