The next G20 meeting plans to call for serious changes in global economy. While the current economy shows signs of improvement, they believe that the improvement is too slow. While this may sound good we must remember that G20 have no actual real power. All will depend on individual rulings of various countries.
The main idea behind all these changes is that countries with huge debts cut their spending and increase savings. The only organization able to influence this process seems to be the International Monetary Fund (IMF), but only to a certain level as the countries with the biggest debt are USA and UK. So what really can the International Monetary Fund (IMF) do? The other step is for more saving oriented countries like Germany and China to increase their spending. While this may be a good idea as it will pump more money into the markets again there is no real organization that can enforce this. While German population may be encouraged to spend more I really doubt that the average Chinese will increase his spending habits considering the fact that they have to save money for health care and retirement as the national support is very low.
Yes global economy should be reorganized, but this reorganization cannot be forced. Countries must realize this on their own that something is not right with the current situation. If they do that then there is hope of a new global economy. If you ask me I do not think that the world is ready for this, at least not all of the world.
