A new vision for agriculture
momagri, movement for a world agricultural organization, is a think tank chaired by Christian Pèes.
It brings together, managers from the agricultural world and important people from external perspectives,
such as health, development, strategy and defense. Its objective is to promote regulation
of agricultural markets by creating new evaluation tools, such as economic models and indicators,
and by drawing up proposals for an agricultural and international food policy.
A look at the news

G20 torn between revival and regulation

16 mars 2009



The excellent spirit of collaboration that seems to have characterized the summit meeting between the finance ministers at the G20 this weekend in London must not overshadow the sense of dissension within the group. As the April 2nd G20 summit approaches, the first disagreements over the right conduct to adopt in the face of the crisis are indeed appearing. Two opposing camps have emerged: the supporters of regulation, represented by the Europeans (notably Paris and Berlin), and the defenders of a massive economic revival centered on demand, represented by the United States and Japan among others.

If the latter are not opposed to introducing the new financial rules called for by the Europeans, they still believe that it should not be the key priority of the G20. This is illustrated by the statement made by Japan’s finance minister, Kaoro Yosano1 : “we all agree about the need for better regulation of the financial sector, but are these actions necessary in times of crisis? What we want at this stage, he added, is to save the life of world economy, not to discuss the length of its beard!”

This statement from the Japanese finance minister is a good illustration of the state of mind of a certain number of players, who focus on immediate responses rather than long-term solutions. However, while these plans for reviving the economy are essential for restoring consumer confidence, they are not sufficient to correct the market failures which have led to the current crisis. This is why it is vital to implement a world regulation to avoid crises repeating themselves indefinitely.

1 Quoted by Le Figaro, “London hosts a G20 divided between revival and regulation”, 13/03/2009, momagri’s translation

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Paris, 18 June 2019