Solutions Summit

At the G20 summit in London have been taken in principle decision. The main one – is devoted to fighting the global economic crisis five trillion dollars. Will the world economy is to properly dispose of these assets? Such huge funds will be allocated in a year and a half years. One-fifth of this amount will get the International Monetary Fund (IMF). It is also envisaged: the fight against tax crimes, regulation the size of bonuses management companies and banks, tighter control of financial markets, the sustainability of national economies. In fact, the solution G-20 summit encroached on the free market economy, in where the real masters were the largest multinational corporations. Model of a modern liberal capitalism seems to be canceled? The lack of government regulation of business under the liberal capitalism, in fact, led to the current economic crisis (especially in the U.S.) when all the accumulation of capital flowed into the sphere of financial speculation. The real economy has been forgotten, all financial organizations’ financial speculative bubble inflated.

” The volume of world financial assets “ballooned” to an unprecedented size – more than 10 times the global GDP. But many economists have warned since the 90’s of the 20 th century, that the value of U.S. securities was unduly inflated. All these years were anti-globalists to protest, feeling the negative effects of globalization. The consequences of the global financial globalization have been even worse than expected. “The bubble burst” and covered the entire globe unemployment, falling real output, the devaluation of national currencies, etc.

The success of the program adopted will depend on countries’ ability to improve its industrial infrastructure and create jobs today. Moreover, the modernization of production and overcome the crisis it will be easier in countries gave rise to the crisis than in developing countries, which later came to him. The failure of the program adopted at the summit, is inevitable if the resources allocated to overcome the crisis will be used to maintain protectionist policies. Embark on this path is not difficult to be kind and support the obsolete much easier than the will to exercise and adopt a new one.