Five principles should guide their thinking. First, although differences on trade and economic policy must be addressed, short-sighted self-interest must be countered actively. Excessive surpluses in some countries and excessive debt in others, fueled by undervalued currencies and runaway government spending, respectively, must be curbed. Countries must commit not to withhold exports of key natural resources for political reasons, and to doing all they can to maintain and promote open markets based on principles of reciprocity and long-term sustainability.
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