G20 summit reflects the pattern of changes in U.S. economic dominance is no longer

The current world is moving away from the old economic pattern, tilted to the emerging markets, but not synchronize the political, so in the face of important issues, countries are still difficult to reach consensus.


Held recently in Seoul, 20 countries (G20) summit to confirm this. The immediate risk is that, due to lack of policy coordination, purely by market forces to correct global imbalances, has become particularly difficult.


And because market forces can not resolve the issue of RMB exchange rate, European politicians can not help by means of force to promote adjustment of tariffs, import barriers must therefore increased.


Cornell University professor, senior fellow at the Brookings Institution Prasad (Eswar Prasad), said: "It is commonly thought, G20 and promote cooperation in the correct global economic imbalances have been stretched to the limit."


He pointed out that, due to stagnation in developed economies, the rapid growth of emerging economies, so you want to coordinate national policy becomes more difficult.


Increase the difficulty of coordination between countries

He said: "In an increasingly integrated global economy, emerging economies play an important role in the environment, domestic policy effects will spread to overseas easily lead to conflict."


Can be seen from the summit in Seoul that conflict.


G20 group of emerging economies blasted the Federal Reserve Board (Fed) policy of quantitative easing; and Barack Obama faced high domestic unemployment low growth, then urges faster appreciation for the U.S. manufacturing decompression.


But in the world economy, the United States has apparently not so mass response of the past