G20 sets growth goal

The G20 has set a global growth target for the first time at a meeting in Sydney, with the aim being to lift the group's collective GDP by "more than 2% above the trajectory implied by current policies over the coming five years."

The G-20 hopes to generate over $2T in extra growth and create tens of million of new jobs.

Germany's Finance Minister Wolfgang Schaeuble, though, doesn't appear to be overly convinced by it all. "What growth rates can be achieved is a result of a very complicated process," Schaeuble said. "The results of this process cannot be guaranteed by politicians."

The G-20 has no plans about how it will reach its target or what happens if it fails. Australian Treasurer Joe Hockey hopes each country will have a plan for themselves by the time of the next G20 meeting in November.

Comments (1)
  • wmateri
    , contributor
    Comments (582) | Send Message
    We all hope that "each country will have a plan for themselves" but "beggar thy neighbor" is looking like the only plan most politicians seem to come up with these days. In the absence of leadership, the race to the bottom continues.
    23 Feb 2014, 05:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs