(Andrea Thomas – Wall Street Journal via MarketWatch)
Germany will emphasize the benefits of globalization when the Group of 20 industrialized and developing nations meet later this week in Washington, where officials will stay clear of issuing a joint statement amid ongoing conflicting views over free trade, according to the German finance ministry.
“We are ready to exchange views with our international partners on the advantages of globalization and a global economy based on the division of labor, and the U.S. is one of the foremost (partners),” said a German finance ministry official on Tuesday at a briefing on the upcoming meeting of the G-20 finance ministers and the spring meeting of the International Monetary Fund in Washington.
“We will say which risks we see should this world no longer act globally and if it was to be fragmented and embraced protectionism and which disadvantages would be associated with this for all national economies. I believe this exchange of views is an extremely important exchange and this is what (the meeting in) Washington is especially for.” Click here to read more.