There are many who fear that it would be too much of a burden for the deficit countries alone to adjust. They therefore suggest that surplus countries should also adjust so that the burden can be shared. I would like to challenge this view by raising two objections: one relating to the effectiveness of such an approach and the other relating to its consequences.
Later, the leaders' summit was initiated in response to the global financial crisis in 2008, and the G20 played a significant role in coordinating policy responses to the crisis. Since then, as the world economy has recovered from the crisis, the G20 has discussed a wide range of issues to promote strong, sustainable, balanced, and inclusive growth.