The finance ministers and central bank governors of the Group of 20 countries who met in Moscow on July 19-20 issued a communique that said in part, "The global economy remains too weak and its recovery is still fragile and uneven." What is characteristic about the current world economic situation is that the money that had flowed into emerging economies has started to flow out of them as the United States hints at scaling down its quantitative monetary easing.
The movement of money has caused the devaluation of currencies of emerging economies and stock price falls in them, thus putting the global economy in an unstable condition.
Developed economies need to pay attention to the conditions of emerging economies and provide necessary help and support to them, since these economies are the destination of developed economies' exports and thus the underpinning of developed economies' economic growth.
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