In order to do so the provision of convincing conditions is of the essence. Local factors gain weight, e.g. a well-educated workforce in an open and flexible labour market and excellent infrastructure. The respective governments should comply with robust public finance in line with a stability-oriented monetary policy.
In more macroeconomic terms, how do you judge the actions of the G20 aimed at reducing global imbalances? – The reasons for the crisis and the responsibilities are manifold, because there were multiple failures. It is unnecessary to dwell on finding a single scapegoat. However, one of the causes was certainly the prevailing complacency over a long period about very large international imbalances.