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November 12: The G20 Summit

  • November 12: The G20 Summit

    November 12: The G20 Summit

  • <p><b>India&#39;s economy is expected to grow 8.5 per cent in the current year and 9 per cent in 2011-12, Prime Minister Manmohan Singh said on Friday.</b>
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Prime Minister Manmohan Singh arrives for the opening plenary session of the G20 Summit in Seoul
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India&#39;s economy is expected to grow 8.5 per cent in the current year and 9 per cent in 2011-12, Prime Minister Manmohan Singh said on Friday.
</p><p>
\"However, high unemployment in industrialised countries threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted,\" he said in a speech at the plenary session of the G20 summit in Seoul.
</p><p>
India&#39;s economy grew 9 per cent in each of the four years prior to the economic crisis but slowed to 6.7 per cent growth in 2008-09.
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    India's economy is expected to grow 8.5 per cent in the current year and 9 per cent in 2011-12, Prime Minister Manmohan Singh said on Friday.

    Prime Minister Manmohan Singh arrives for the opening plenary session of the G20 Summit in Seoul

    India's economy is expected to grow 8.5 per cent in the current year and 9 per cent in 2011-12, Prime Minister Manmohan Singh said on Friday.

    \"However, high unemployment in industrialised countries threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted,\" he said in a speech at the plenary session of the G20 summit in Seoul.

    India's economy grew 9 per cent in each of the four years prior to the economic crisis but slowed to 6.7 per cent growth in 2008-09.

  • <p><b>G20 meets low expectations</b>
</p><p>
US President Barack Obama speaks during a joint news conference with South Korea&#39;s President Lee Myung-bak at the presidential Blue House
</p><p>
G20 leaders drew a veil over their economic policy disputes on Friday, agreeing to tackle tensions that have raised the spectre of a currency war and trade protectionism, but they fell short of already low expectations.
</p><p>
The developed and emerging nations agreed at a summit in Seoul to set vague \"indicative guidelines\" measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year.
</p><p>
In a communique signed off at the end of the gathering, the group&#39;s fifth since the financial crisis exploded in 2008, the leaders vowed to move towards market-determined exchange rates and shun competitive devaluations.
</p>

    G20 meets low expectations

    US President Barack Obama speaks during a joint news conference with South Korea's President Lee Myung-bak at the presidential Blue House

    G20 leaders drew a veil over their economic policy disputes on Friday, agreeing to tackle tensions that have raised the spectre of a currency war and trade protectionism, but they fell short of already low expectations.

    The developed and emerging nations agreed at a summit in Seoul to set vague \"indicative guidelines\" measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year.

    In a communique signed off at the end of the gathering, the group's fifth since the financial crisis exploded in 2008, the leaders vowed to move towards market-determined exchange rates and shun competitive devaluations.

  • <p><b>Catering staff pose for pictures outside the Convention and Exhibition (COEX) Centre, venue of the G20 Summit</b>
</p><p>
After two days of talks, the G20 has ended up at the lowest common denominator.
</p><p>
An agreement to develop \"indicative guidelines\" to help identify large current account imbalances that risk destabilising the global economy was the bare minimum expected of the leaders of the world&#39;s 20 major economies.
</p><p>
By giving finance ministers the task of working out the indicators that will constitute the guidelines, the G20 will invite criticism that it is just kicking the can down the road.
</p><p>
Sceptics will say that a smaller, more cohesive group would have acted more decisively, especially at a time when -- in the words of a closing communique -- tensions and vulnerabilities in the international monetary system are plainly apparent.
</p><p>
Those tensions, especially between the United States and China over the yuan, could yet become un

    Catering staff pose for pictures outside the Convention and Exhibition (COEX) Centre, venue of the G20 Summit

    After two days of talks, the G20 has ended up at the lowest common denominator.

    An agreement to develop \"indicative guidelines\" to help identify large current account imbalances that risk destabilising the global economy was the bare minimum expected of the leaders of the world's 20 major economies.

    By giving finance ministers the task of working out the indicators that will constitute the guidelines, the G20 will invite criticism that it is just kicking the can down the road.

    Sceptics will say that a smaller, more cohesive group would have acted more decisively, especially at a time when -- in the words of a closing communique -- tensions and vulnerabilities in the international monetary system are plainly apparent.

    Those tensions, especially between the United States and China over the yuan, could yet become un

  • <p><b>G20 closes ranks but skims over toughest tasks as members of the G20 wave during a family photo session at the Summit</b>
</p><p>
G20 leaders closed ranks on Friday and agreed to a watered-down commitment to watch out for dangerous imbalances, yet offered investors little proof that the world was any safer from economic catastrophe.
</p><p>
After an acrimonious start, the developing and emerging nations agreed at a summit in Seoul to set vague \"indicative guidelines\" for measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year.
</p><p>
European leaders broke away for their own mini gathering in the middle of the summit to discuss a deepening credit crisis in Ireland, a stark reminder that the consequences of the worst financial crisis since the Great Depression still posed a serious threat to global stability.
</p>

    G20 closes ranks but skims over toughest tasks as members of the G20 wave during a family photo session at the Summit

    G20 leaders closed ranks on Friday and agreed to a watered-down commitment to watch out for dangerous imbalances, yet offered investors little proof that the world was any safer from economic catastrophe.

    After an acrimonious start, the developing and emerging nations agreed at a summit in Seoul to set vague \"indicative guidelines\" for measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year.

    European leaders broke away for their own mini gathering in the middle of the summit to discuss a deepening credit crisis in Ireland, a stark reminder that the consequences of the worst financial crisis since the Great Depression still posed a serious threat to global stability.

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