Sunday, July 1, 2012

The implications of G20 Summit

The seventh G20 Mexico Summit has ended.
This summit was very meaningful as countries could discuss solutions to European financial crisis and world depression.
Korean President Lee Myung Bak presented solutions to recent Euro Zone financial crisis and world depression based on the experience of overcoming Asian economic crisis in 1997 and financial crisis in 2008 that started in the U.S. As a result, he gained support from leaders of other nations.
In the leading comment at lunch, he said "during economic crisis, international commerce should be promoted and job should be created." He also recommended to freeze protective trade at a G20 level.
Leaders from each countries has decided to extend G20 level of freezing protective trade till 2014 and included 10 clauses in G20 Summit declaration.
All the countries should cooperate and recover world financial crisis such as that in Euro Zone and hopefully they will reach stability and prosperity.

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