the circumstances, the G20 economic agenda may seem like a sideshow. It is still important, though.
There are profound implications for the global economy from the Americans' decision to move away from their policy of monetary laxity, or quantitative easing, which will affect the strength of the dollar. And when it comes to reform, there is crucial unfinished business to be dealt with on the question of global tax avoidance by big international corporations. The willingness of these companies to shift their profits to places where they will pay the least tax has implications for even big economies consider the debate on tax avoidance by Starbucks, Amazon and Google here but it has a devastating effect on Africa. Poverty campaigners say Africa lost more in tax revenue in the three decades to 2010 than it gained in development aid. It is an issue that can only be dealt with on a global basis, and a global perspective is precisely what the G20 provides.
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The chief issue here is transparency. Global companies say, perfectly correctly, that they are doing nothing illegal in minimising their tax obligations but their duties to their shareholders must be balanced against their moral obligations to the countries where they operate. If the G20 can tackle this first step in addressing the contentious issue by forcing companies to be open about profits and tax, they can then start thinking what to do about it. Credit where it's dueThe introduction of the Universal Credit to replace six separate benefits is on.
ut the global economy; instead it is dominated by Syria, which will not be debated at the full gatherings but at bilateral meetings. Soberingly for Britain, there is not one scheduled between the US and the UK but there is between President Obama and France's President Hollande. This is the logical consequence of last week's parliamentary vote on Puma Rihanna Shoes Burgundy
intervention. Mr Obama's attention is, moreover, distracted by the Puma Velvet Blue