It would be too facile to claim that maybe the world economy is tanking because of all these meetings at which nothing happens, little is agreed upon and what is agreed to is often just a dodge of good policy — or, more often, a prescription for bad policy. On the other hand, nobody these days balks at facile analyses or empty slogans. Just read this week’s G20 declaration, in which, among scores of other platitudes, leaders said they “are in full agreement that we need to intensify our efforts to reduce both internal and external imbalances.”
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