G20: A global test for US economic policies?

September 25, 2009

This from the lede of today’s WSJ piece on the G20:

The Group of 20 nations is close to an agreement that would require members to subject their economic policies to a type of “peer review,” according to several senior G-20 officials, in a shift that would expose the U.S. and China to broad scrutiny of the way they run their economies.

Me: My gosh, I hope this is not one more step toward tax policy harmonization which would likely lead to higher US taxes and the addition of a VAT tax. On the other hand, the elevation of the status of the G20 is a good idea, especially if it can eventually have a global security component.

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