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.
