Salient to Investors:
Athanasios Vamvakidis at Bank of America said that despite many risks to the global economy, the G-20 has weakened substantially, which makes all countries worse off.
Daniel Price at Rock Creek Global Advisors said the G-20 absences say more about the exigencies of domestic economic issues than it does about the future of the G-20.
Walter Russell Mead at Bard College said there aren’t many incentives for cooperation in international economic policy at the moment. Mead said central banks in the US and the EU are bent on a course that makes problems for many emerging markets, but domestic forces supporting those policies are so strong that little will change.
Jacob Kirkegaard at the Peterson Institute for International Economics said Mexican politics played a role in undermining this weekend’s meeting – there is no real agenda for the G-20 right now, with no urgency for the hosts to present something the leaders can deliver on. Kirkegaard said it’s up to Putin to find a new agenda to reverse the decline of the G-20 – until then, there is sense of fatigue at too many meetings with too few results.
Read the full article at http://www.bloomberg.com/news/2012-11-01/geithner-draghi-no-show-risk-turning-mexican-g-20-into-flop-1-.html