The two-day group of twenty (G20) leaders Toronto Summit closing 27. Meeting of the g-20 Summit Declaration of Toronto stressed that further action to promote the world economy is strong, sustainable and balanced growth. The participating countries in reducing fiscal deficits, advancing the reform of international financial institutions, as well as against protectionism and other issues through consultations, compromise and consensus. Of course, such a consensus cannot be satisfactory.
Set the tone: world economic recovery "fragile"
In 2008, the outbreak of the global financial crisis has been gradually out of the doldrums, but this year started in Greece of sovereign debt crises in Europe once again reminded the world debt crisis: crisis alert is far from dissolved. The world economy has begun wouldn¡¯t, but has "deep penetration" into the global economy, development of crisis so that recovery is extremely fragile.
Therefore the "strong, sustainable and balanced growth" is still the primary task of the Member countries of the G20.
Declaration of the G20 meeting, pointed out that collaborative efforts have so far yielded good results. World economic growth has been restored, but challenges remain. Recovery process does not balance but fragile.
It is based on the world economy "fragile recovery" that must be emphasised that the G20 in promoting economic growth and the reduction of government debt relationship achieved consensus on the issue.
Compromise: continue to stimulate efforts to reduce debts
The participants leaders that, despite the economic development of the situation is different, but the quest for balanced and stable economic growth is a consistent target countries. To this end, States shall in accordance with national circumstances, to take measures to safeguard financial stability, to achieve conservation goals of the world economic recovery.
Continuing with the existing economic stimulus plan, the G20 members decided to adopt measures for the effective reduction of the deficit. The Declaration noted that the G20 requested developed countries strive to stable recovery, while at the same time strive to 2013 will States present the budget deficit in half by 2016 stability, and reduce the Government debt representing countries GDP. But the deficit targets and implementation of the "light of national conditions".
This "not too many binding terms of debt relief," and prior to European expectations.
In Europe, Greece is almost "destruction" of debt crisis the European States sounded the alarm: unlimited budget deficit will completely ruin the euro system to make the EU the construction "of the world's most competitive economies" Lisbon strategy "vanish into thin air. So "more stringent and binding" debt reduction agreement is "a very necessary".
Reform: increase the emerging powers of speech right
Two years of the world financial crisis has fully proved that in the new situation, the most developed countries alone on behalf of the Group of eight (G8), has been unable to resolve the global economic imbalances, out of the underlying issues. Only in developed countries and emerging economies, to accommodate the 80% of the global composition of GDP, has a broader representative organizations, in order to respond effectively to current and future world economy face a fundamental problem.
It is precisely for this reason, in the second, third, the G20 Summit G20 "international economic cooperation major platforms" status was confirmed; China, Brazil, India and other "emerging" by G20 in global economic governance play a greater role in becoming the consensus of the world.
This Toronto Summit is the fourth G20 Summit is an important achievement, is continuing to promote the reform of global governance, i.e. landscape continues to grow the emerging powers in the voice of global governance.
The Declaration stated that 20 leaders agreed to establish a prior commitment of open, transparent and based on the results of selecting all the international financial institutions, leaders and senior management on the basis of, in November of Korea Seoul Summit before strengthen senior management of selection procedures.
And promote more new and emerging market countries and developing countries members of the international financial institution executives, developing countries representative and audience is international financial institutions are an important part of the governance reform. The International Monetary Fund Chief Kahn said he believed that more staff from developing countries in the Organization as a senior management position.
China: a positive image of the more prominent
China in the world financial crisis of the positive role played by won the world recognition. This also allows participation in the Summit of the Chinese delegation particularly compelling.
Many Western media in coverage of the G20 Summit, the "Chinese" has become a very high frequency of use of keywords. In Toronto for a few days of interview, many people hear journalists from Canada, China, always thumbs, on China's economic success both envy and admiration.
Hu Jintao, the President of the meeting of the working together to create a bright future on the important speech emphasized that it is necessary to thoroughly understand the international financial crisis, the impact of the seriousness of the depth and complexity, continue to develop in the same boat, in the spirit of win-win cooperation, promoting the G20 mechanism construction, speeding up the construction of a fair, just, inclusive and orderly international financial order, promotion of building free and open global trading system and increase the capacity of developing countries to promote self-development, as soon as possible into the world economy is strong, sustainable and balanced growth.
Summit Chair of Canada's Prime Minister Stephen Harper on China and the role of the spoke highly of it. In his view, the Chinese in the international financial crisis has taken a strong stimulus plan, on the international community to respond to crises is helpful for world economic recovery.
Some United States expert in this reporter's opinion, in an exclusive interview to China led by emerging powers play a role in the G20, this mechanism is much more important.
Prevention: trade barriers most worrying
The Summit again opposed trade protection and the promotion of commercial and investment reached consensus.
Declaration that States will boycott in the area of goods and services to improve or increase the investment
-Barriers to trade, opposition to increasing export restrictions, against the implementation of the WTO rules are contrary to the policy to stimulate exports. Opening of markets to guarantee growth and increase employment levels, the implementation of the framework at G20 "strong, sustainable and balanced development of the essential."The Declaration stated that, on the occasion of the financial crisis, G20 to open markets for trade and investment, provided more opportunities for choice is correct. The Declaration reaffirmed the resumption of the Doha round of urgency, that should be in the current progress has been made on the basis of the way through various negotiation to push negotiations continue.
The next G20 Summit will be held in November in Korea Seoul, 2012 of the G20 Summit will be held in Mexico.
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