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G-20 Seoul summit : Prospects and future challenges

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Frame of Image . In this context, the G-20 Seoul Summit is expected to become a turning point for building a new management system for the world economy in the coming future.
differences among the participating countries. This, therefore, has created an added burden for Korea in its efforts to generate fruitful outcomes from the Summit. Despite such stark circumstances, an agreement was reached at the Gyeongju G-20 Finance Ministers’ Meeting on matters pertaining to the currency conflict, reform of the IMF, global financial safety net and also development agendas, thereby making the prospects for the G-20 Seoul Summit more optimistic. Once the G20 Seoul Summit succeeds in transforming the agreement reached at the Gyeongju Financial Ministers’ Meeting to a set of concrete outcomes, the G-20 Seoul Summit is sure to bring about major achievements on those core issues. The challenge is to transform those agreed outcomes to G20’s concrete joint action plans.
Due to the differences in the speed and extent of economic recovery among the G-20 member countries, the sense of urgency once they shared has evaporated and spirit of cooperation have been significantly weakened when compared with the time during the 1st Washington Summit, which was held in 2008. Especially, as the conflict between the U.S. and China over the value of the yuan has been escalating notably and a number of key countries have diverged in their positions on the G-20’s core issues, Korea’s role as a chair country has become ever


Full Text
Title G-20 Seoul summit
Similar Titles
Sub Title

Prospects and future challenges

Material Type Reports
Author(English)

Choe, Wongi

Publisher

[Seoul]:Korea National Diplomatic Academy

Date 2010-11
Series Title; No IFANS Brief
Pages 5
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Government and Law < International Politics
Holding IFANS