For Immediate Release
G20-Make or Break?
Engdahl: The question in the EU is - will they go down with the dollar system or find their own way?
LONDON - In a recent TV interview, George Soros, international currency
trader and investor, called the upcoming G-20 Summit in London "a make
or break" for the world economy and suggested that a failure by the
participating countries in reaching a policy consensus could lead to a
world economic depression. Paul Jay of The Real News Network sat down
today with William Engdahl, the German-based author, political
economist, and risk consultant, to discuss the significance of the G-20
Summit and the chances of forging a united stance in confronting the
current economic crisis.
Calling the G-20 an arbitrary construct trying vainly to keep
the global economy intact with the same old rules, Engdahl states that
major participants such as China, Russia, and Europe have different
interests right now with little appetite for bailing out the U.S.
Engdahl draws particular attention to efforts over the past 10 to
15 years by the European economies, in upgrading infrastructure such as
advanced high-speed railway systems, highway networks and
transportation grids that today cover eastern European economies. These
are critical infrastructure that the U.S. economy has neglected over
the past three decades that could have contributed to sustained
economic growth. Other topics covered in this interview include the
U.S. debt and European stimulus plans.
Watch this interview on The Real News Network:
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