G20 countries have once again pledged to invest in advanced-economy infrastructure as a strategy to boost global growth. The world has heard this before, but it never seems to work out as promised, because policymakers continue to ignore the factors that deter investors.
CAMBRIDGE – It is breathtaking to watch world leaders put aside their differences and agree to a single strategy to boost global economic growth. It is heartbreaking when that strategy doesn’t do much good. At the G20’s recent summit in Hangzhou, China – its tenth since the 2008 global financial crisis – member governments once again pledged to invest in infrastructure in advanced economies to boost growth, and in the developing world to fight poverty. But it is still mainly a pledge.
CAMBRIDGE – It is breathtaking to watch world leaders put aside their differences and agree to a single strategy to boost global economic growth. It is heartbreaking when that strategy doesn’t do much good. At the G20’s recent summit in Hangzhou, China – its tenth since the 2008 global financial crisis – member governments once again pledged to invest in infrastructure in advanced economies to boost growth, and in the developing world to fight poverty. But it is still mainly a pledge.