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MarkGB 

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

Robert Zoellick says President Obama should explain US plans. Here are the defaults:

In response to an FT article by Robert Zoellick on 7th September 2015, entitled 'China will stumble if Xi stalls on reform' 

http://www.ft.com/cms/s/0/3186f3dc-5310-11e5-b029-b9d50a74fd14.html#ixzz3l53O2ktd

"President Barack Obama should explain US plans for structural economic reforms — for taxes, entitlement expenditures, immigration and trade"

That presupposes he has them. The US has sub-contracted the economy to the Federal Reserve, a group of 'tooth fairy economists' who have no experience at producing anything other than academic reports and financial bubbles.

By default, here are the 'plans':

Taxes - More of them, the hunt for money is on wherever the government can find it. E.G. Use FATCA to make it increasingly impossible for Americans to get a bank account overseas because banks don't want to incur the wrath of the US Department of Hubris, who can't prosecute any of the crooks on Wall Street but are wonderfully brave when it comes to pinning the blame for financial calamity on introvert traders who live in Hounslow. Don't under any circumstance try to reform the tax code, it's too difficult

Entitlement Expenditures - keep them off the balance sheet where they now 'belong', don't talk about them at all if possible, and if anyone mentions 'demographics', feign an ear infection

Immigration - In favour of it but the other lot are making life difficult because they think all immigrants will vote Democrat...what can you do?

Trade - This is all clearly explained in the deals no-one is able to look at or talk about - see the file marked 'basement' for an overview of what's not in them

You are correct in this Mr Zoellick:

"The leaders of the world’s largest economies now need to explain their growth strategies. And they need to be explicit about the risks — economic, security and cyber — that might impede co-operation. Today’s policy drift places the world economy in danger of being swamped by hazardous currents"

But that would require leaders prepared to tell the truth - we don't have those in the US, we don't have them in China, in Japan, or in the EU, and we certainly don't have them in the UK either. What you are asking for is 'leaders' - what we've got are 'central planners'. They don't create wealth, they don't understand trade, and they certainly don't know how to tell the truth.

Contrary to myth - you can't print forever

Mark Roe says share buy-backs are not the problem