The G20 Finance Ministers and Central Bank Governors Meeting will be held in Asheville, North Carolina, as a forum for discussions on global economic stability. Experts discuss the focus of debate surrounding inflation and geopolitical risks.
The G20 Finance Ministers and Central Bank Governors Meeting is scheduled to be held in Asheville, North Carolina, for two days from the 31st. With global inflation and geopolitical risks, including the situation in the Middle East, weighing on the economy, the meeting is expected to discuss policy responses by each country. Former Vice-Minister of Finance Nakao Takehiko (中尾 武彦) and former Bank of Japan Executive Director and Executive Economist Monma Kazuo (門間 一夫) discuss domestic and overseas economic conditions and Japan's role, respectively.
Nakao said that while US tariff policy and the situation in the Middle East have not seriously affected growth or inflation at present, investment related to AI is boosting the global economy. He expressed the view that stronger policy measures, including Bank of Japan rate hikes, are needed to address the erosion of purchasing power caused by yen depreciation and to stabilize inflation and long-term interest rates.
Monma said that rising geopolitical risks and the impact of energy prices are weighing on the global economy. He expressed the view that while the G20 functions as a forum for a certain degree of exchange of views, there are limits to long-term cooperation. Against a backdrop of China's policy shift making international cooperation more difficult, he said Japan should, as a middle power, seek to address the US-China rivalry while working with Europe and Asia to help shape the global order.