grey boy 2
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G-20 summit: More power to India
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AnGrz_Z_K_Jailer
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Dr Singh is king at the G-20 summit
PITTSBURGH: The Indian mindset places excessive emphasis on protocol, which is often mistaken for substantive policy upgrades. Witness the preening A to Z of G-20
What is G20 success for Obama?
World's nuclear powers?
in some quarters over Prime Minister Manmohan Singh being the first state guest at the Obama White House come November.
So when Prime Minister Singh was seated next to President Obama on more than one occasion, including at the Pittsburgh G-20 Summit, and Singh took care to mention it, it was seen as no more than another ego massage, a nice photo-op for India.
But there may be more to it than symbolism. As a former college professor and international technocrat whose doctoral thesis was on trade (specifically India’s export performance and its policy implications) Singh brings more to the table than pretty much any other leader when the discussion turns to economics, and Obama, a policy wonk, appears to have recognized that quickly.
At Pittsburgh, it was quite remarkable how much of Singh’s policy prescriptions made their its way into the final communique, an extraordinarily long one issued by the summiteers, including the none-too-subtle chastising of reckless US behaviour that had brought trouble to the rest of the world, especially developing countries, and the rising tide of protectionism.
Principal among them was the insistence that there should be no premature withdrawal of the trillion-dollar stimulus that came from the last two G20 summits and the call for a planned and orderly exit at the right time.
There were pledges to bankroll multilateral financial institutions, redistribute its representative clout to dilute rich countries dominance, and forsake protectionism, among other remedies suggested by Singh.
As the world’s principals get ready for two crucial summits relating to trade and climate change in the next few months, it is emerging that India will have an unprecedented central role in shaping the final outcome of some of the most vital negotiations in history.
---------- Post added at 09:12 PM ---------- Previous post was at 09:11 PM ----------
Link : Dr Singh is king at the G-20 summit- Politics/Nation-News-The Economic Times
PITTSBURGH: The Indian mindset places excessive emphasis on protocol, which is often mistaken for substantive policy upgrades. Witness the preening A to Z of G-20
What is G20 success for Obama?
World's nuclear powers?
in some quarters over Prime Minister Manmohan Singh being the first state guest at the Obama White House come November.
So when Prime Minister Singh was seated next to President Obama on more than one occasion, including at the Pittsburgh G-20 Summit, and Singh took care to mention it, it was seen as no more than another ego massage, a nice photo-op for India.
But there may be more to it than symbolism. As a former college professor and international technocrat whose doctoral thesis was on trade (specifically India’s export performance and its policy implications) Singh brings more to the table than pretty much any other leader when the discussion turns to economics, and Obama, a policy wonk, appears to have recognized that quickly.
At Pittsburgh, it was quite remarkable how much of Singh’s policy prescriptions made their its way into the final communique, an extraordinarily long one issued by the summiteers, including the none-too-subtle chastising of reckless US behaviour that had brought trouble to the rest of the world, especially developing countries, and the rising tide of protectionism.
Principal among them was the insistence that there should be no premature withdrawal of the trillion-dollar stimulus that came from the last two G20 summits and the call for a planned and orderly exit at the right time.
There were pledges to bankroll multilateral financial institutions, redistribute its representative clout to dilute rich countries dominance, and forsake protectionism, among other remedies suggested by Singh.
As the world’s principals get ready for two crucial summits relating to trade and climate change in the next few months, it is emerging that India will have an unprecedented central role in shaping the final outcome of some of the most vital negotiations in history.
---------- Post added at 09:12 PM ---------- Previous post was at 09:11 PM ----------
Link : Dr Singh is king at the G-20 summit- Politics/Nation-News-The Economic Times
what's wrong with you all guys!
how could a festive event for all developing countries end up like this!
as asian counties, as developing countries and as the loser of the last two centuries, we have much much more things to be done rather than fighting each other
how could a festive event for all developing countries end up like this!
as asian counties, as developing countries and as the loser of the last two centuries, we have much much more things to be done rather than fighting each other
they have to accept it
no, not for sure yet. this is how things worked.
so, let's see how the story goes:
1) russia denied the US request on the supply route, so the oil price went down. but russia did side with US finally on the iranian nuclear programe, therefore the deploy of the missile defensive system was postponed
3)china gain more power in IMF and stop buying US bonds, therefore, more and more troops,both indian and chinese, are deployed to Kashmir region.
but for 2, nothing is clear yet.
iran test several missiles and admitted the existance of 2nd uranium enriching factory just after the G20 meeting. a coincidence? maybe. but if this is the Queen, then EU still holds a King, the scrutiny of israel nuclear programe. or maybe they are still hiding the Ace, allying RMB to punch the US economic, as the last resolve.
Spring Onion
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should we also mention off topic Indian poverty and defence purchases ????
Spring Onion
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Emerging nations big winners at re-born G20
Sunday, September 27, 2009
PITTSBURGH, Pennsylvania: World leaders unveiled on Friday a new vision for economic governance, with bold plans to fix global imbalances and give more clout to emerging giants such as China and India.
The Group of 20 summit in Pittsburgh committed the International Monetary Fund to shifting at least five percent of its internal voting rights to the developing world and tasked it with a bigger monitoring role.
“The Fund must play a critical role in promoting global financial stability and rebalancing growth,” a final statement from leaders of the G20 developed and developing nations said.
Paired with an earlier announcement that the G20 has been promoted over the Group of Eight rich countries to become the world’s top economic forum, the two days in Pittsburgh have seen a seismic shift in global economic diplomacy.President Barack Obama, hosting his first major international summit, said the G20 had agreed landmark reforms that would create the international economic architecture necessary in the globalised 21st century.
“We will bring more transparency to the derivatives market. We will strengthen national capital standards so that banks can withstand losses and pay for their own risks,” he said.
“We will create more powerful tools to hold large global financial firms accountable and orderly procedures to manage failures without burdening taxpayers.
“And we will tie executive pay to long-term performance so that sound decisions are rewarded instead of short-term greed.”
Indian Prime Minister Manmohan Singh welcomed the decision to replace the G8, which he described as “ill-equipped” to oversee the modern global economy.
“With the rise of Asia, with growth of India, China and Brazil, the economic decision-making has to take into account the views of these countries if it is to have an optimum impact,” he said.
Chinese President Hu Jintao said: “Both developed and developing economies should take more solid and effective measures and make greater effort to boost consumption and expand domestic demand.”
The G20 also agreed it was too early to begin to scale back the multi-trillion dollar stimulus measures that have helped stave off further economic misery following last year’s financial meltdown.
“We will avoid any premature withdrawal of stimulus. At the same time, we will prepare our exit strategies and, when the time is right, withdraw our extraordinary policy support in a cooperative and coordinated way, maintaining our commitment to fiscal responsibility,” the final statement said.
During two days of meetings in the aptly chosen re-born former steel city of Pittsburgh, considered a model for economic transformation, there was also tough talk about curbing banking excess, a symbolic issue for many taxpayers.
Banks themselves should also expect tighter regulation and monitoring as the excesses of the recent past came in for heavy suspicion in a strongly worded part of the G20 accord.
“We call on banks to retain a greater proportion of current profits to build capital, where needed, to support lending,” it said.
“All firms whose failure could pose a risk to financial stability must be subject to consistent, consolidated supervision and regulation with high standards.”
The biggest announcement came overnight and was about the Group of 20 itself.
“Today, leaders endorsed the G20 as the premier forum for their international economic cooperation,” a White House statement said.
“This decision brings to the table the countries needed to build a stronger, more balanced global economy, reform the financial system, and lift the lives of the poorest.”
The G8 wealthy nations Britain, Canada, France, Germany, Italy, Japan, Russia, and the United States has served in various forms as the premier economic forum since 1975 and holds closely-watched annual summits.
As leaders flew home after a hectic week of international diplomacy that saw them first at the United Nations General Assembly in New York, Pittsburgh breathed a sigh of relief after the day passed without violent protest.
Emerging nations big winners at re-born G20
Sunday, September 27, 2009
PITTSBURGH, Pennsylvania: World leaders unveiled on Friday a new vision for economic governance, with bold plans to fix global imbalances and give more clout to emerging giants such as China and India.
The Group of 20 summit in Pittsburgh committed the International Monetary Fund to shifting at least five percent of its internal voting rights to the developing world and tasked it with a bigger monitoring role.
“The Fund must play a critical role in promoting global financial stability and rebalancing growth,” a final statement from leaders of the G20 developed and developing nations said.
Paired with an earlier announcement that the G20 has been promoted over the Group of Eight rich countries to become the world’s top economic forum, the two days in Pittsburgh have seen a seismic shift in global economic diplomacy.President Barack Obama, hosting his first major international summit, said the G20 had agreed landmark reforms that would create the international economic architecture necessary in the globalised 21st century.
“We will bring more transparency to the derivatives market. We will strengthen national capital standards so that banks can withstand losses and pay for their own risks,” he said.
“We will create more powerful tools to hold large global financial firms accountable and orderly procedures to manage failures without burdening taxpayers.
“And we will tie executive pay to long-term performance so that sound decisions are rewarded instead of short-term greed.”
Indian Prime Minister Manmohan Singh welcomed the decision to replace the G8, which he described as “ill-equipped” to oversee the modern global economy.
“With the rise of Asia, with growth of India, China and Brazil, the economic decision-making has to take into account the views of these countries if it is to have an optimum impact,” he said.
Chinese President Hu Jintao said: “Both developed and developing economies should take more solid and effective measures and make greater effort to boost consumption and expand domestic demand.”
The G20 also agreed it was too early to begin to scale back the multi-trillion dollar stimulus measures that have helped stave off further economic misery following last year’s financial meltdown.
“We will avoid any premature withdrawal of stimulus. At the same time, we will prepare our exit strategies and, when the time is right, withdraw our extraordinary policy support in a cooperative and coordinated way, maintaining our commitment to fiscal responsibility,” the final statement said.
During two days of meetings in the aptly chosen re-born former steel city of Pittsburgh, considered a model for economic transformation, there was also tough talk about curbing banking excess, a symbolic issue for many taxpayers.
Banks themselves should also expect tighter regulation and monitoring as the excesses of the recent past came in for heavy suspicion in a strongly worded part of the G20 accord.
“We call on banks to retain a greater proportion of current profits to build capital, where needed, to support lending,” it said.
“All firms whose failure could pose a risk to financial stability must be subject to consistent, consolidated supervision and regulation with high standards.”
The biggest announcement came overnight and was about the Group of 20 itself.
“Today, leaders endorsed the G20 as the premier forum for their international economic cooperation,” a White House statement said.
“This decision brings to the table the countries needed to build a stronger, more balanced global economy, reform the financial system, and lift the lives of the poorest.”
The G8 wealthy nations Britain, Canada, France, Germany, Italy, Japan, Russia, and the United States has served in various forms as the premier economic forum since 1975 and holds closely-watched annual summits.
As leaders flew home after a hectic week of international diplomacy that saw them first at the United Nations General Assembly in New York, Pittsburgh breathed a sigh of relief after the day passed without violent protest.
Emerging nations big winners at re-born G20
No Hack. I explained myself. What may be logically equivalent positions are psychologically very different.
I think you get it. If not, we'll do it another time, another place.
Agree with you, Mr. Guest.
If I have to select one person to represent the tantalizing promise, the teeming mass, and the rich history of Asia, without hesitation I vote for Dr. Singh.
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