Question:

G20 summit in Washington shows times have changed

by Guest10189 | 3 years, 6 month(s) ago

The world has changed and the G20 summit shows where it the world stands now.

Global economic meetings used to mean the G7 and then the G8.

It was a rich-country affair with Russia invited in during in the 1990s - but that was to tackle international political issues, not for the sake of a contribution to the economic discussions.

How times have changed. A global economic problem needed a presence from developing country leaders.

Tags: Changed, G20, summit, times, Washington

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Guest10189

SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY

1. We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges to the world economy and financial markets. We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world's financial systems.

2. Over the past months our countries have taken urgent and exceptional measures to support the global economy and stabilize financial markets. These efforts must continue. At the same time, we must lay the foundation for reform to help to ensure that a global crisis, such as this one, does not happen again.

Our work will be guided by a shared belief that market principles, open trade and investment regimes, and effectively regulated financial markets foster the dynamism, innovation, and entrepreneurship that are essential for economic growth, employment, and poverty reduction.

Report (0) (0) | 3 years, 6 month(s) ago