G20 is Warned about Economic Collapse
Investmentwatchblog.com
September 10th, 2016
The Honey Pot could turn into a powder keg & become a cascading global economic meltdown if the G20 doesn’t make capitalism “More Fair”.
From the Sydney Times…
“Prime Minister Malcolm Turnbull has warned G20 leaders they risk a mistake of historic proportions if they “hide under the doona” and they must ignore economic scaremongering.
“That is a road we cannot afford to go down,” he told business leaders at his first G20 commitment in the Chinese city of Hangzhou on Sunday.
Following the Brexit vote and the rise of US presidential candidate Donald Trump, Mr Turnbull said leaders must restore public trust in economic reform, in open markets and open trade and must counter rising calls for protectionism and isolation.
“In this time of change, you can’t afford to hide under the doona and pretend it isn’t happening.”
Now was not the time to reverse the rise of economic reform.
Mr Turnbull said governments and businesses had to collaborate to ensure nobody was left behind amid rapid global economic change.
“We have to be as agile as the world in which we live.”
He said an increasingly complex and integrated global economy had driven the rise populism in many nations and the call for protectionism.
“That is a road we cannot afford to go down. It would be a mistake of historic proportions for the G20 to stand by while scare campaigns, not based on fact or evidence, foster protectionism or indeed isolationism,” he said.
Business and political leaders had to work together to do more on reassuring the public and promoting the benefits of open trade and investment, he said.
Part of that was cracking down on multinational tax avoidance.
“Paying taxes is not optional,” Mr Turnbull said.
“That’s a critical element of rebuilding that trust.
End of Article.
So yeah.
Trouble ahead.
God bless everyone,
T
