WASHINGTON, DC – Much of the hype surrounding last month’s meeting in Moscow of G-20 finance ministers and central bankers was dedicated to so-called “currency wars,” which some developing-country officials have accused advanced countries of waging by pursuing unconventional monetary policies. But another crucial issue – that of long-term investment financing – was largely neglected, even though the endgame for unconventional monetary policy will require the revitalization or creation of new long-term assets and liabilities in the global economy.
华盛顿—对于上个月在莫斯科举行的G20财政部长和央行行长会议，人们的目光集中在所谓的“货币战争”上，一些发展中国家的官员指责发达国家追求非常规呃。但另一个关键问题——长期投资融资鲜有人提及，尽管非常规货币政策的结束要求全球经济的长期资产和负债复苏或新生。