China — China Daily, (Apr. 4): [Chinese Foreign
Minister Yang Jiechi] also highlighted China's proposed measures to
reform the international financial system. In addition to enhancing
regulatory cooperation, he urged international financial institutions
to increase aid to developing countries. In his speech, [President Hu
Jintao] stressed that the I.M.F. should strengthen supervision of
currency policies. The I.M.F. and the World Bank should improve their
governance by increasing representation to the developing countries, he
said. China promised that it would actively contribute to increasing
I.M.F. resources but stressed that the multilateral lending institution
should make the expanded resources available first for developing
countries. Yang said that Hu also expressed China's concern over rising
trade protectionism during a time of crisis, and called upon all
countries to resist trade barriers.
Trinidad — Trinidad & Tobago Express, (Apr. 6):
The Government is having a great deal of difficulty in persuading a
skeptical population that [the G20] summit will bring any tangible
benefits to Trinidad and Tobago. … There is an uneasy feeling that in
building international conference centers, international financial
centers and making a case for a personal jet, Prime Minister Patrick
Manning has lost sight of the basic needs and necessities of T&T. …
Of course the final G20 communiqué may not be that important. After the
November 2008 summit in Washington a statement was released indicating
that the leaders had agreed to fight protectionism. Since then 17 of
the 20 countries have introduced new protectionist measures.
Malaysia — Malaysia Star, (Apr. 6): The G20 Summit
last Thursday was projected as a success because it agreed to provide
$1 trillion to help developing countries. The reality is far more
sobering. … The trillion figure was what caught the headlines. But as
serious analysis shows, this figure purporting to be new money was more
hype than reality. Some of it had already been decided long before the
Summit, and some of it reflected only an intention rather than concrete
pledges. … Nevertheless, the majority of developing countries are
absent from the G20 table, and thus the G20 does not have international
legitimacy. The United Nations is the better venue for discussion and
decision-making on the global economy and the way out of the crisis,
with a greater chance that the interests of developing countries will
be taken care of.
Sudan — Sudan Tribune, (Apr. 4):
Chairman of New partnership for Africa's Development (N.E.P.A.D.) and
Ethiopian prime minister Meles Zenawi who attended the G-20 summit
representing the African continent on Friday said that the outcomes of
the London summit were satisfactory. … According to the premier, the
final outcomes of the G-20 summit, which he said he is pleased by, are
the results of the pre-summit consultations made with senior African
officials, organizers of the summit including U.K. prime minister
Gordon Grown, and also are the results of the G-20 summit itself which
broadly heard to African concerns as a top agenda. The G-20 wound up
its summit on Thursday by promising $50 billion in aid to Africa, which
is expected to be funneled as of the coming November. Meles was the
only African leader apart from South Africa's president Kgalema
Motlanthe to attend the G-20 summit.
Ireland — Irish Times, (Apr. 6): In the words of the
final communiqué: "The era of banking secrecy is over." The capacity to
create mega virtual profits and their decidedly non-virtual bonuses,
and the ability of large corporations to largely avoid paying tax, will
both be buried with that defunct secrecy. Multilateral funding is being
tripled, and the world's major economies are now reading, if not yet
singing, from a common sheet. German chancellor Angela Merkel, a woman
not renowned for exaggerated language, probably understated it when she
called the outcome an "almost historic compromise." When the
Kenyan-American Barack Obama, who partly grew up in Indonesia, brokers
a deal between Nicolas Sarkozy (the son of a Hungarian migrant) and Hu
Jintao on tax havens and the Organization for Economic Co-operation and
Development, our world system can be said to, at last, be coming of
age. The protocol specialists can sleep easier.
United Kingdom — Daily Telegraph, (Apr. 5): French
President Nicolas Sarkozy was intent that the communiqué should say the
G20 would "endorse" a blacklist of tax havens produced by the
Organization for Economic Co-operation and Development. The Chinese
President Hu Jintao was adamant that it should not. … While not
aggressive, the men were refusing to give any ground. … Perhaps
predictably, the rescue operation was carried out by none other than
the President of the United States. This was Barack Obama's first
international summit, but you would hardly have guessed. … He suggested
changing the word "endorse" to "note." There was a brief moment of
hesitation, but then both sides agreed. Minutes later they signed the
communiqué. The press conference was only delayed for around half an
hour. The rest is history, or at least what Brown referred to as a
"historic moment."
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