Sunday, November 14, 2010

Gee-whiz G-20, how about some straight talk!

The Group of Twenty (G-20) provides a forum for global leaders to discuss international financial system issues. Its members are finance ministers and central bankers from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, the European Union along with representation from the World Bank and the International Monetary Fund. This past week’s meeting was held in Seoul, South Korea. Among the messages from this session, the confusing text “These indicative guidelines composed of a range of indicators would serve as a mechanism to facilitate timely identification of large imbalances that require preventive and corrective actions to be taken.”

MY TAKE: G20 meetings provide 1) great opportunities for group photos of world leaders, 2) a nice economic infusion of tourism and hospitality trade for the host location and 3) expectations that may be met with mixed results. This meeting delivered on all three points.

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