最近一次G20財長和央行行長會議在德國城市巴登巴登舉行，上周六是會議的最后一天。德國財長沃爾夫?qū)に芬敛祭赵诋斕斓男侣劙l(fā)布會上表示：“全球經(jīng)濟風險當然繼續(xù)存在，甚至有人說它們變得更大了。”

他說：“因此，我們有充分的準備至關(guān)重要?！?朔伊布勒還表示，德國擔任G20輪值主席國期間的首要任務之一就是提高經(jīng)濟對未來沖擊的抵抗力。

他指出，這些已采納的原則包括政策建議，比如勞動力市場監(jiān)管，同時也涉及國際貿(mào)易和“開放市場的重要性”。

路透社取得的副本顯示，上述原則構(gòu)成的文件名為《G20經(jīng)濟體韌性原則報告》（Note on Resilience Principles in G20 Economies）。這些原則圍繞五大主題展開，分別是生產(chǎn)服務性行業(yè)、公共金融、私人金融、貨幣政策和外向型行業(yè)。

文件中的建議涉及“鞏固宏觀經(jīng)濟基礎(chǔ)和政策體系，以便從開放貿(mào)易和國際資本流動中獲益?！?/p>

它還建議政府“確保整個經(jīng)濟全面分享貿(mào)易的益處”。

在公共金融方面，文件認為政府應當確保公共債務處于可持續(xù)水平，并考慮到“長期結(jié)構(gòu)性財政壓力”。

面對保護主義日漸抬頭的美國，G20未能找到合適的讓步方式。本次G20會議在公報中承諾，要維持開放并具有包容性的全球貿(mào)易體系。

上述文件還警告，個別政策行為會產(chǎn)生不利的溢出效應，這顯然是指美國意欲推出有利出口而不利進口的邊境稅。

文件稱：“積極的跨境外溢現(xiàn)象會放大個別政策行為的影響，同時也應當考慮個別政策行為可能產(chǎn)生的消極溢出效應?！?/p>

國際貨幣基金組織首席經(jīng)濟學家莫里斯·奧布斯特菲爾德本周一警告說，美國打算通過重出口輕進口的做法來調(diào)整稅制，這或許會對沙特等經(jīng)濟體產(chǎn)生溢出效應，原因是此舉可能讓美元走強。（財富中文網(wǎng)）

譯者：Charlie

"The risks for the global economy continue to persist of course, some even say they have rather increased," German Finance Minister Wolfgang Schaeuble said on Saturday during a news conference at the end of the G20 meeting in Baden-Baden.

"This is why it's all the more important that we are well prepared," Schaeuble said, adding that strengthening the economic resilience against future shocks was one of the priorities of the German G20 presidency.

Schaeuble said the adopted list of principles included policy recommendations for example on labor market regulation, but also for international trade and the "importance of open markets."

The adopted document, of which Reuters obtained a copy, is entitled "Note on Resilience Principles in G20 Economies." The list is organized around five broad themes—real sector, public finance, private finance, monetary policy and external sector.

The list includes the advice to "strengthen macroeconomic foundations and policy frameworks to reap the benefits of openness to trade and international capital flows."

It also calls on governments to "ensure that the benefits from trade are widely shared throughout the entire economy."

In the section on public finances, it says governments should ensure that public debt is on a sustainable path taking into account "longer term structural fiscal pressures."

In their main communique, the G20 countries dropped on a pledge to keep an open and inclusive global trade system after being unable to find a suitable compromise with an increasingly protectionist United States.

In an apparent reference to U.S. proposals to introduce a border tax to favor exports over imports, the separate document on resilience warns against negative spillover effects from individual policy actions.

"While the effects of individual policy actions are amplified through positive cross-border spillovers, any possible negative cross-border spillovers arising from individual policy actions should also be considered," it says.

The International Monetary Fund chief economist Maurice Obstfeld warned on Monday that U.S. proposals to overhaul the U.S. tax code by favoring exports over imports could have spillover effects to other economies such as Saudi Arabia as the measure was likely to strengthen the dollar.