HONG KONG — The so-called financial leaders of the Group of 20 nations propped up this month's agreement in Paris against a fluffy set of economic indicators that may lead to their taking concerted action to head off a future potential global economic crisis. But it would be unwise to hold your breath expecting a deal.
The G20 still has to agree on "indicative guidelines" on which the indicators might be assessed and, after that, has to agree on measures that might be taken when the guidelines are breached and the world is hurtling toward crisis.
The semantic quibbling so completely preoccupied the leaders that they were unable to recognize or give attention to some very real economic crises that are already bubbling toward the boil.