Australian Treasurer Hockey is seeking an agreement a global growth target during the group of 20 finance ministers summit in Sydney this coming weekend.
It’s a target higher than the International Monetary Fund’s forecast for global growth in 2014 of 3.7%:
“If we have a growth aspiration that is higher than that and we lay down a pathway for countries to get there then we’re going to create the jobs and get global trade going at the level that we need in order to help to increase prosperity and ultimately help us pay down our deficits and our debt.”
He is going to face resistance … with a German finance ministry official saying he was “extremely sceptical” about the plan… “This is a somewhat outdated form of economic planning”