Schwellenmärkte und globale Finanzreform

BERKELEY: Es passt, dass der anstehende G20-Gipfel in Pittsburg abgehalten wird, einem alten Industriezentrum eines hoch entwickelten Industrielandes, denn man hat die hoch entwickelten Länder die Agenda zur Stärkung der Finanzsysteme festlegen lassen. Die Schwellenmärkte haben außer Schadenfreude nicht viel beigetragen.

Die Vereinigten Staaten legen dabei den Schwerpunkt auf höhere Kapitalanforderungen. Die Europäer drängen auf eine Reform der Vergütungspraktiken im Finanzsektor. Beide Vorschläge haben ihre Vorzüge; ob sie allerdings ausreichen werden, um unsere gefährlich instabilen Finanzsysteme zu stabilisieren, ist bestenfalls fragwürdig.

Was die Schwellenmärkte zu dieser Agenda beitragen können, ist, um es freundlich auszudrücken, unklar. Sie haben bisher kaum etwas dazu gesagt, wie sie die Finanzsysteme reformieren würden. Sie können nun argumentieren, dass dies nicht ihr Problem sei – dass die Krise der vergangenen beiden Jahre ihr Zentrum in den hoch entwickelten Volkswirtschaften habe und dass es die Finanzsysteme dieser Länder seien, die man in Ordnung bringen müsse.

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