As a powerful complement to the United Nations, the G20 has acquitted itself well by representing most of the world’s population and economic output with a limited membership. By expanding to include the African Union, it would overcome its biggest limitation without any loss of agility.
calls for the African Union to be added to the G20 to address the group’s biggest limitation.
With asset prices so frothy, it is understandable that central banks would be wary of beginning to taper monthly bond purchases before it is clear that inflation has taken off. But they would do well to recognize that prolonging quantitative easing implies significant risks, too.
worries about the effects of accommodative monetary policies on governments’ exposure to interest-rate risk.