Tuesday, March 31, 2009

G-20 Summit Gets Started

President Obama arrived in London today for the G-20 summit.

Reports about the summit say that Obama and other leaders will gloss over their many differences so as not to further rattle markets or harm confidence.

There have been lots of articles the past couple of weeks about how little the Europeans countries are doing, in comparison to the US, in terms of stimulus spending.

One that won't be discussed as much as it should is protectionism; David Sanger, in an article in the NYT today, says "At the last G-20 summit meeting, participants agreed to resist protectionist tendencies. Few have. By several official counts, 17 nations — the United States included — have taken at least preliminary actions to limit imports or make sure that their stimulus money is spent at home."

Who is actually in the G-20?

North America = USA, Canada, Mexico
South America = Argentina, Brazil Europe = France, Germany, Italy, Turkey, UK, Russia, and the European Union as an entity
Middle East = Saudi Arabia
Africa = South Africa
Asia = China, India, Indonesia, Japan, South Korea
Australia = Australia

Fascinating that Saudi Arabia gets a seat at the table!

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