After a meeting in Rome, G7 representatives announced their pledge to the global economy. Many are warning against protectionism, and some have voiced concerns in President Obama’s stimulus package that contains the buy America provisions.
It is unfortunate, however, that this only constitutes a pledge, and unless there is a preliminary plan and somewhat of a guaranteed commitment by the G7 to follow it this meeting was nothing for than a public relations stunt. Granted, the financial market is susceptible to such grand press conferences, but the global economy needs tangible solutions, not some abstract aspiration for a miracle.
