Heather Stewart, economics correspondent
Sunday December 19, 2004
The Observer
Germany, France, Italy and Canada should be thrown out of the G7 club of the world's richest nations to make way for China, according to Stephen Roach, chief economist at Morgan Stanley. This, he says, is the only way for the global economy to avoid drifting into crisis.
In a new paper, Roach argues that the current system is 'completely antiquated', and that a slimmed-down, more powerful 'G5', with a seat each for the US, Britain, China, Japan and the eurozone, 'could be very aggressive in diagnosing the sources and potential cures of global imbalances'.
Full article:
http://observer.guardian.co.uk/business/story/0,6903,1376752,00.html
already determined to join themselves economically I can only imagine that
combining themselves at the table of the G# would be a good force for
further uniting them.
I certainly don't think however that Canada should be booted out. If for no
other reason than the fact that Canada is the number 1 trade partner of the
number 1 importer, the US. Also, funnily, the next headline in my RSS reader
was in regards to the shortage of iPods in Canada which I assume means you
bought them all. That has to mean you have not only cash but good taste as
well.
full disclosure since I haven't created an account: I'm a Virginian and I
happen to think Canada is pretty keen.
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Alliance Atlantis films proudly presents...
Anakin Skywalker will fall and the Empire will rise May 2005.
and it's been holding my pants up ever since.