German Finance Minister Wolfgang Schaeuble addresses a news conference at the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany, March 18, 2017. REUTERS/Kai Pfaffenbach
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The world's financial leaders adopted a list of principles on Saturday to boost the resilience of their economies against future shocks, including the advice to strengthen policy frameworks to reap the benefits of open markets.Schaeuble said the adopted list of principles included policy recommendations for example on labor market regulation, but also for international trade and the "importance of open markets".The list is organised around five broad themes -- real sector, public finance, private finance, monetary policy and external sector.In an apparent reference to U.S. proposals to introduce a border tax to exports over imports, the separate document on resilience warns against negative spillover effects from individual policy actions.
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