This (click on title for story) is a true green shoot.
Leaders are finally recognizing that a global restructuring needs to take place in order for the world economy to move forward. This may lead to increased pressure on China to accelerate the appreciation of the Yuan. The country holds the key to unlocking the next phase of growth.
While China is the elephant in the room in regards to rebalancing their economy, I think Germany can take some steps as well. Countries that have large current account surpluses must take steps to re-balance their economies.
The Cannes G20 meeting is in November, hopefully we’ll get some substance behind the rhetoric.