Ｇ８経済宣言 世界景気の回復は道半ばだ

The Yomiuri Shimbun(Jul. 10, 2009)
World economic recovery still needs diligent care
Ｇ８経済宣言　世界景気の回復は道半ばだ（7月10日付・読売社説）

The world economy seems to have left the worst of the financial downturn behind, but continued vigilance is needed.
　世界の景気は、最悪期を脱しつつあるが、まだ警戒が必要だ。

It is significant that leaders of the Group of Eight industrialized powers reconfirmed their cooperation to find ways out of the financial crisis.
　危機の克服に向け、主要８か国（Ｇ８）の首脳が、結束強化を再確認した意義は大きい。

On Wednesday, the G-8 adopted at its summit meeting in L'Aquila, Italy, a declaration relating to various fields, such as the economy and the environment, and a statement on nuclear nonproliferation.
　主要国首脳会議は、経済や環境など各分野の首脳宣言と核不拡散に関する首脳声明を採択した。

Regarding the world economy, the statement said, "While there are signs of stabilization...the situation remains uncertain and significant risks remain to economic and financial stability."
　首脳宣言の世界経済分野では、「安定化の兆しがある。しかし、状況は不確実で、大きなリスクが存在する」と指摘した。

Since the sudden collapse of U.S. banking giant Lehman Brothers Holdings Inc. last autumn, two financial summit meetings have been held by the Group of 20 major developed and developing economies, at which agreements were made on cooperation to implement large-scale fiscal spending and easing of monetary policies.
　昨秋のリーマン・ショック後、先進国と新興国による２０か国・地域（Ｇ２０）の金融サミットが２回開かれ、大型の財政出動や、金融緩和策で連携してきた。

The G-8 statement on the economy is positive over the fact that the economic downturn seems to have been arrested thanks to international policy coordination, but the statement also acknowledged the continued weakness of the world economy.
　経済宣言は、これまでの政策協調の効果で景気悪化に歯止めがかかってきたことを前向きに受け止めながら、世界経済の弱さにも言及せざるを得なかった。

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Concerns linger

The biggest concern is over aggravated employment. Jobless rates in the United States and Europe have jumped to nearly 10 percent.
　最も気がかりなのは、雇用情勢の悪化だ。米欧では、失業率が１０％近くに急上昇している。

This year, Japan, the United States and industrialized nations in Europe simultaneously will register negative economic growth rates for the first time since the end of World War II.
　日米欧の先進国は今年、戦後初めて、そろってマイナス成長に陥る。

It is still unclear whether the world economy can recover within this year and return to positive growth by next year.
世界景気が年内に回復に転じ、来年にかけてプラス成長に浮上する道筋はなお不透明だ。

It also is important for G-8 nations and emerging countries such as China and India to enhance cooperation via the G-8.
　Ｇ８の主導で、中国、インドなどの新興国を含めた連携を強めることがますます重要になる。

As the declaration emphasized the taking of all steps necessary, it is vital that no loose reins remain vis-a-vis fiscal policy. The strengthening of employment measures must be expedited.
　宣言が「あらゆる行動を取る」と強調したように、政策の手綱を緩めないことが肝要だ。雇用対策の強化を急がねばならない。

According to the statement, G-8 leaders agreed on the necessity for exit strategies aimed at dealing with the massive fiscal stimulus packages that were created to tackle the crisis. However, it is premature to implement such exit strategies at this point. It is vital to assess the economic climate carefully to determine the optimum time and method for introducing such exit strategies.
　宣言は、危機に対応した経済政策を以前の状態に戻す「出口戦略」の必要性でも合意した。しかし、現時点で動き出すのは時期尚早だろう。いつ、どんな形で出口戦略を作るのか、慎重に景気を見極める必要がある。

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Free trade paramount

The rise of protectionism also is feared as this could adversely affect any early recovery of the world economy.
　保護貿易主義の台頭も懸念される。世界経済の早期回復に悪影響を与えかねないからだ。

Despite several agreements that have been made to inhibit protectionism, the United States has introduced a "Buy American" provision that requires any public projects funded by stimulus money to use only U.S.-made products. China and Russia also have adopted protectionist measures.
　昨年以来、何度も保護主義阻止で一致したのに、米国が公共工事に米国製品の使用を義務付けるバイ・アメリカン条項を導入し、中国、ロシアでも、保護主義的な措置が相次いだ。

It is not surprising that G-8 leaders reaffirmed antiprotectionism in their statement. Based on lessons learned from the Great Depression, during which protectionist moves aggravated the economic malaise, free trade should be promoted.
　経済宣言が改めて、反保護主義で一致したのは当然だ。かつての世界恐慌が、保護政策によって深刻化した教訓を生かし、自由貿易を推進すべきである。

The G-8 also agreed to aim for the early completion of the Doha Round of trade liberalization talks--which has been stalled for eight years--under the World Trade Organization.
　約８年も難航している世界貿易機関（ＷＴＯ）の新多角的貿易交渉（ドーハ・ラウンド）の早期妥結への決意も表明した。

A compromise between industrialized nations and emerging and developing economies must be found to get the talks back on track. The outlook of the world economy will be greatly affected by whether an agreement can be reached.
　先進国と新興国や途上国が妥協点を探る必要がある。合意できるかどうかで、世界経済の先行きが大きく左右されよう。

(From The Yomiuri Shimbun, July 10, 2009)
（2009年7月10日01時27分 読売新聞）