The Ministers of Economy and Finance and central bank governors of the Group of Seven (G-7) and meet at Akiu, in the northeast region of Japan, at a time when the global economy continues to show during the course towards a sustainable recovery. Indeed, Japan, suddenly host country avoided a technical recession in the first quarter, but the recent appreciation of the yen has made ravages exceptional measures while the Bank of Japan still question its effectiveness.
"Many economic uncertainties persist in the world. Coordinating our efforts to focus our discussions," he said before the summit, Minister Taro Aso, who last week was open to an intervention of the Japanese currency if this continued experience a unilateral price increase. A fact that does not agree with the United States, which is Japan and Germany, in its list of possible currency manipulators.
Jack Lew, his treasury secretary admitted yesterday that Japan should use "all tools" at his disposal to revive its economy and "not just" the exchange rate. He also recalled that the G7 countries (United States , Japan, France, Germany, Italy, Canada and Great Britain), "have a special responsibility to support growth," which is "too low". But, again, it is in the recipe to apply where positions vary. After finishing with great monetary ammunition, Japan now seems to join Canada, France and Italy, countries that encourage tax incentives.
A position that the German Finance Minister Wolfgang Schaeuble remains opposed, according to statements collected by the Japanese newspaper Nikkei, where he warned that "the economic recovery strategy by the credit has quickly hit its limit, as a flame shoot" . "The important thing is to promote structural reforms and the reduction of public debt," he said.
Other issues on the table include, among others, the slowdown in China, the risk that Britain left the EU after a referendum on June 23 and the massive influx of refugees to Europe, the ministry said Japanese Finance.
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