Friday 12 February 2010


G-20 REFLECTS GROWING IMPORTANCE OF INDIA, CHINA: BARACK OBAMA

The Times of India, February 12, 2010

WASHINGTON: President Barack Obama has told the US Congress that the key role given to the Group of 20 (G-20) leading economies in the global financial crisis reflects the growing importance of key emerging economies such as India and China.

"Given the central role the G-20 had played in the response to the crisis, it is not surprising that the leaders agreed in Pittsburgh to make the G-20 the premier forum for their economic coordination," he said in the annual economic report of the president.

"This shift reflects a shift that was reinforced by the agreement in Pittsburgh to realign quota shares and voting weights in the IMF and World Bank to better reflect shifts in the global economy."

The 458-page document sent to the Congress on Thursday details the actions taken by Obama to prevent the economy from falling into a depression, and outlines White House's outlook and policies on areas as diverse as savings and investment, health care and climate change.

The G-20, which includes India and 18 other nations plus the European Union is composed of most of the world's largest economies, both advanced and emerging, and makes up nearly 90 percent of world's gross national product.

Turning to the global financial crisis, Obama noted that even as world GDP was estimated to have fallen roughly 1.1 percent in 2009 from the year before, "Asia continued to grow at a robust pace for the year as a whole (over 6 percent)".

[artículo aquí]

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