Business Week's Plan for Action
CUT INTEREST RATES
Central bankers of the Group of Seven industrialized nations should coordinate cuts in interest rates to increase global liquidity
CUT TAXES
To promote economic growth, the U.S., Japan, and Western Europe should cut tax rates
LIQUIDATE BAD DEBTS
Governments should broker a deal to wipe out bad debts--and force banks to take a hit for their ill-advised loans
KEEP MARKETS OPEN
Congress should extend NAFTA and give the International Monetary Fund an $18 billion infusion--but only if the IMF adopts pro-growth policies
GET JAPAN MOVING AGAIN
Balky Japan must finally cut taxes and boost liquidity to restore economic growth
TAME HOT MONEY
Developing countries need to avoid capital controls, and instead beef up financial disclosure and bank supervision
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