The beginning of a new era in global economic policy making is being marred by old squabbles over taxes, currencies and regulation. Finance ministers and central bankers from the Group of 20 nations ended a meeting in St. Andrews, Scotland, over the weekend with a schedule for comparing each other's medium-term economic goals and eventually suggesting changes if domestic policies appear likely to harm the global economy. Something as seemingly mundane as a work plan actually stands as a significant achievement because countries ranging from the United States to India have now made concrete what had been only an abstract pledge to...
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