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© 2012 AFPIMF warns over public debt amid slowing growth
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The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© 2012 AFP
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HowardStern
i feel so dumb that everyone else who reads this story understands language like this while I'm left scratching my head
gaijinfo
Debt Reduction = spending less money
Supporting an economy = spending or printing money
Basically it means they've (they = governments of at risk economies) got to save money and spend money at the same time
Strengthening public finances = reduce debt = spend less money
excessive withdrawal of fiscal support = too much decrease in money spending
Basically it means they've got to cut down on spending, but not too much
Which means pretty much the same as the first statement.
Basically, the gist of the whole article is:
Governments are going broke fast. But they've got to keep spending money.
Gee, what should we do? Tricky spot!
kazetsukai
The direction comes from IMF that basically wants money to give to other so called developing and financially troubled nations. To do that the wealthier nations must be financially sound. So they want the wealthier nations to tighten their belts and at the same time "stabilize" the financial markets for the benefit of the rest of the world that depends on it. The reasoning is that if the rest of the world is stable, it will help Japan's economy become stable and possibly improve, based upon IMF's standards and needs, not necessarily Japan's needs.
The problem is that till today the Japanese still believe and respect what an international organization say rather than determine its own standards and evaluate accordingly. Japan must first have its own standard to "compare" with IMF.
avigator
Akaji Tsunami is coming to town soon.
HowardStern
very helpful... thanks
saidani
To the IMF and our other so-called "leaders" in global finance, complexity is a feature, not a bug. It keeps the hoi polloi believing that these super-intelligent bureaucrats are the only ones that "get it" and that we should all be thankful that such smart people have chosen "public service" instead of a selfish career in the private sector...you know, where jobs are created.
saidani
Correct. The concept of globalization has a fatal flaw which will cause billions to suffer at some point in the future. That would be the loss of competition without which economies stagnate. In the end, the first nation to opt out and go their own direction will be the winner.
johnnybravo
What this article is missing.
Here.... http://economywatch.nbcnews.com/_news/2012/10/09/14320190-china-vs-japan-but-the-loser-could-be-the-global-economy?lite