Pittsburgh Summit Produces Roadmap for Post-Crisis World

As we know that the Pittsburgh summit has produces the roadmap for the US and the post-crisis world. “The economic recovery efforts taken by the Group of 20 members have saved the world economy from the brink of collapse,” the president said at a news conference after the conclusion of the G20 summit, which was held on Sept. 24-25.The Pittsburgh summit had set a road map for the world to balance the economical recovery. The roadmap once again makes it clear that the world’s primary task at present is to counter the international financial crisis and to promote a healthy world economic recovery. It will also definitely exert a significant influence on the world’s financial future.

This summit has done a very positive impact and also gives the message to the world that they should stay alert against any possible adverse impact of the stimulus packages, especially the potential risk of inflation. The G20 leaders agreed that the so-called exit strategy should be used with care in order not to upset skittish financial markets and impede their fragile recovery. We can say that in terms of financial reforms, G20 leaders agreed to rein in financial industry excesses that triggered the credit crisis two years ago. Tighter rules on how much capital banks must have to absorb losses should be ready by the end of 2010 and will be phased in during the following two years. This road map is the path of “Post Crisis era” but now it’s the responsibility of the other countries that how they take advantage form this road map and make their economy balanced.