what the world is reading

Clive Crook argues that what G-20 governments mostly need to do on trade is to mean what they say on issues like protectionism.....

G-20 and the limits of co-operation/ National Journal Magazine

Clive Crook argues that what G-20 governments mostly need to do on trade is to mean what they say on issues like protectionism. Because governments prefer,or say they prefer,open markets,a failure to keep protectionism in check would be a failure of both communication and coordination,rather than a good-faith failure to agree. In other words,if the G-20 can do nothing else,it should at least be able to hold the line against nascent protectionism. Crook talks of the bigger role and voice for emerging economies like India,post G-20. The summit confirms that the Group of 20 countries,whose members account for 80 per cent of global production,has taken over from G-7 as the top forum for international cooperation. This step,too,was long overdue.

G20 Cool on Super Currency Idea/The Moscow Times

The Russian newspaper made apparent Russias disappointment at the lack of response to their leaders suggestion of a global currency. President Dmitry Medvedev got a lukewarm response to his proposal for a new international reserve currency at the G208230; with world leaders focusing on the more immediate need to secure money to bail out the global economy. The G20 summit did not focus on the longer-term task of overhauling the foundations of the global monetary system,the paper said. The report focused on blacklisting of global tax havens and supervision of credit rating agencies.

Hu,Obama set up new economic dialogue/China Daily

In its coverage of the G-20 Summit,China Daily focused on the bilateral meeting between US President Barack Obama and Chinese President Hu Jintao. China and the US have agreed to prioritize the two countries relations by establishing the new strategic economic dialogue, author Li Xing wrote. The paper noted that Sino-US relations are of fundamental interest not only to both countries,but to peace,stability and prosperity in Asia and the world. Obama is quoted as saying that he hopes their meeting will improve peace and security for both the countries and the world. Chinese premier Hu Jintao talked of forging a personal friendship with Obama.

The G20 show too much zeal/ EUObserver.com

In a post on April 1,a day before the Summit,Peter Sain ley Berry sums up the much hyped G20 Summit by paraphrasing Churchills observation that never in the field of human endeavour had so much been expected by so many of so few. He debunks the tall claims to bring in a New World Order as futile. He says,The focus of the summit will not be anywhere near as radical as ushering in a New World Order. Rather,the focus will be on how to restore the Old World Order with the minimum of fuss. As if all would be well again if only more people would buy more cars. Berry argues that the developing world may be justified in blaming the developed world for its current financial woes. The Brazilian President8230; blames the whole mess on the Anglo-Saxons and wonders why Brazil should be asked to help. He may well have a point. Smita Agarwal