【英语国际】盖特纳与萨默斯:G20峰会上的美国立场

Timothy Geithner / Lawrence Summers

(Editor's Note: Mr. Geithner is the secretary of the Treasury. Mr. Summers is director of the National Economic Council.)

This week, President Obama will travel to Toronto for the G-20 Summit. Engagement with the G-20 has been a key component of the administration's strategy to defuse the global financial crisis and ensure economic recovery. Stronger growth with solid job creation here in the U.S. depends on an expanding global economy, and this year's G-20 provides an important opportunity to focus on the policies required to reinforce growth.

In London last spring, the G-20 embraced an unprecedented and coordinated strategy to end this crisis. In Pittsburgh last fall, we established a new framework for global growth, and we designated the G-20 as the premier forum for international economic cooperation. In Toronto, we will take steps to ensure that the current recovery is self-sustaining.

Thanks to strong, decisive and coordinated action, President Obama and the other G-20 leaders have achieved significant progress since the London meeting. The global economy, which was then contracting at an unprecedented rate, is now expanding, and world trade has increased by more than 20% over the last 15 months.

This turnaround has been especially dramatic in the United States. At the time of the London summit, the U.S. economy was shrinking at an annual rate of 6%. Now it is growing at a rate in excess of 3% -- the largest swing in U.S. growth in 50 years.

At the start of last year, the U.S. was losing more than 700,000 jobs a month, and today the private sector is generating new jobs. Recovery was only possible because we took action to repair our financial system, driving down borrowing costs for homeowners, consumers and businesses, and put in place the Recovery Act, which increased demand by cutting taxes for families, helping unemployed workers, and investing in public infrastructure.

We still face enormous challenges. To maintain the momentum of the U.S. recovery, we need strong, balanced and sustainable global growth. Global growth will help double U.S. exports over the next five years, supporting several million American jobs, a key goal of the president's export initiative. The G-20 is critical to ensuring that global growth, and three priorities must be at the center of our agenda in Toronto.

First, the G-20 must continue to work together to secure the global recovery it did so much to bring about. We must ensure that global demand is both strong and balanced. While the U.S. was the major source of demand for the world economic growth before the crisis, global demand must rest on many pillars going forward. That is why the G-20 must support Europe's reform program and the financing that Europe and the IMF will provide to countries facing acute fiscal challenges. There is a broad consensus about the importance of fiscal sustainability, but the precise timing and sequencing of that consolidation should vary across countries and be calibrated to maintain the momentum of private sector recovery.

Countries must put in place credible plans to stabilize debt-to-GDP levels and set a pace of consolidation that reinforces the momentum of growth. We must demonstrate a commitment to reducing long-term deficits, but not at the price of short-term growth. Without growth now, deficits will rise further and undermine future growth.

Emerging economies can help strengthen the global recovery by strengthening domestic sources of growth and by allowing more flexibility in their exchange rates. We welcome China's recent decision to do so and look forward to its vigorous implementation.

Second, we need to accelerate efforts to establish a global framework for financial regulation. Here at home, we are on the verge of completing the most sweeping financial reform in more than 70 years. This reform will curb excessive risk-taking, reduce leverage, reform compensation, protect consumers, bring transparency and more competition to derivatives markets, address the problem of firms that are too big to fail, and make sure taxpayers do not bear the costs when firms do fail.

The world should welcome Europe's announcement to bring greater disclosure to its banking system, which provides further momentum for the G-20 work to bring all global institutions and markets within a more transparent regulatory system. Critically, we need to reach agreement internationally on reducing leverage and raising capital requirements, improving both the quantity and quality of capital. While new measures must be phased in over time so as not to interfere with the flow of credit, establishing those rules now can be an important source of certainty and confidence.

Third, we need to make progress on other global challenges that are essential to the future security and prosperity of the world. Alongside our efforts to lay a new foundation for economic growth, we must follow through on our common commitment to raise living standards across developing countries and to make smarter investments in areas like agricultural development and food security.

In addition, we must address the urgent challenge of our energy needs, as the current disaster in the Gulf makes clear. In Pittsburgh, the G-20 countries agreed to phase out inefficient fossil fuel subsidies over time. The U.S. has laid out how it intends to achieve this goal, and we urge other G-20 countries to demonstrate their commitment to this critical objective by detailing how and when they plan to eliminate policies that encourage the overconsumption of fossil fuels.

In this new era, when emerging markets account for two-thirds of global growth, concerted action by the G-20 is the only effective way to confront the challenges that lie ahead. As world leaders arrive in Toronto, we must renew the sense of common purpose and collective urgency that has served the world so well over the past year and a half.

盖特纳(Timothy Geithner) / 萨默斯(Lawrence Summers)

本周末美国总统奥巴马将前往多伦多参加20国集团峰会（G-20）。与20国集团协作一直是美国政府缓解全球金融危机并确保经济复苏策略的主要一环。美国要想实现能大力创造就业的经济迅猛成长，要依赖全球经济的扩张，今年的20国集团峰会为关注巩固经济成长的政策提供了一个重要机会。

去年春天在伦敦，20国集团接受了史无前例的合作策略以终止这次金融危机，去年秋天在匹兹堡，我们建立了全球经济发展的新框架，另外我们指定20国集团会议是国际经济合作的首要论坛。这次在多伦多，我们将采取措施确保当前的经济复苏可以自我持续下去。

Reuters美国财长盖特纳、西班牙财长萨尔加多、韩国央行行长金仲秀、韩国财长尹增铉和法国财长拉加德在G20财长和央行行长会议上。感谢这一强大、决定性的合作行动，奥巴马总统及20国集团其他领导人自伦敦会议以来在各方面已获得重大进展。当时以前所未有的速度萎缩的全球经济目前正在扩张，过去15个月世界贸易增长逾20%。

这一转变在美国尤其巨大。伦敦峰会时，美国经济以6%的年率萎缩，但目前增长年率超过3%，这是50年来美国经济成长中最大的波幅。

去年伊始美国一个月丧失超过700,000个就业岗位，而目前私营企业已在创造新的就业机会。由于我们采取行动修复金融体系，降低房屋所有者、消费者及企业的借贷成本，实施了通过削减家庭税赋来增加需求的复苏法案（Recovery Act），帮助失业工人及向公众基建项目投资，只有这样复苏才变得有可能。

但我们仍面临着巨大的挑战。为了维持美国经济复苏的动力，我们需要全球经济稳健、平衡并可持续增长。未来五年内全球经济增长将使美国出口增加一倍，帮助美国创造数百万个就业机会，而后者是总统颁布的出口刺激政策的主要目标。20国集团峰会对于确保全球经济成长至关重要，多伦多峰会上三个优先议题必须成为议程的中心。

首先，20国集团必须继续同舟共济以使全球经济复苏，我们必须确保全球需求既强劲又平衡。尽管金融危机前美国是带动全球经济成长的主要需求来源，但未来全球需求必须依靠许多支柱。这是20国集团必须支持欧洲改革计划，欧洲和国际货币基金组织（IMF）向面临严重财政困难的国家提供资助的原因。人们普遍认可财政稳定的重要性，但在整合的准确时机和先后顺序上各国应有所不同，并应进行调整以维持私营企业复苏的动力。

各国必须实施可靠的计划以稳定债务占国内生产总值（GDP）的比重，并设定整固的速度以增强经济成长动力。我们必须承诺减少长期赤字，但不能以牺牲短期经济成长为代价。如果目前经济未能成长，赤字将进一步加剧，从而将削弱未来成长。

新兴经济体可以通过加强经济增长的国内源头以及允许本币汇率更具弹性来帮助强化全球经济复苏。我们欢迎中国近期的决定，并期待其有力地执行。

第二，我们需要更加努力建立金融监管的全球框架。以美国来说，我们接近完成70多年来最大规模的金融改革。这一改革将抑制风险过高，减少杠杆，改革薪酬，保护消费者，让衍生品市场透明且更具竞争力，解决企业过大而不能倒闭的问题，并确保纳税人不用承担企业倒闭后的成本。

全球应该欢迎欧洲将使其银行体系更为透明的声明，这让20国集团能更有力地将全球金融机构和市场置于更透明的监管体系中。重要的是我们要在国际范围内就减少杠杆，提升资本需求，提升资本数量和质量达成协议。随着时间的推移必须采取新措施，以避免干预信贷流动，建立这些规则是确定性和信心的重要来源。

第三，我们需要在其他全球性挑战中取得进展，这对世界的未来安全和繁荣至关重要。在我们努力建设经济成长的新基础之外，我们还要实施提高发展中国家生活水平的诺言，在农业发展和食品安全等领域进行更明智的投资。

此外，我们必须解决能源需求的燃眉之急，当前墨西哥湾发生的灾难使这一问题更加明显。在匹兹堡会议上，20国集团决定随着时间推移逐步取消没什么作用的化石燃料补贴。美国已表明如何达到这一目标，我们敦促其他20国集团成员国作出如何达到这一关键目标的承诺，详细说明准备如何及何时取消鼓励过度消耗化石燃料的政策。

在这一新时代，新兴市场的贡献占全球经济增长的三分之二，20国集团联手行动面对未来挑战是唯一的有效办法。随着全球领袖云集多伦多，我们必须再次强调过去一年半以来世界面临的共同目标和紧迫问题。

(编者按：盖特纳为美国财长，萨默斯是美国国家经济委员会主任)