Global Economy Summits - Can World Leaders Find a Solution Together?

November 27th, 2008 | by admin |

The Summit on Financial Markets and the World Economy was held on November 15, 2008. There were many countries represented at the summit. The following countries were represented: The United States of America, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Netherlands, Republic of Korea, Russia, Saudi Arabia, South Africa, Spain, Turkey, United Kingdom, and the European Union.

There were many country leaders at the summit. The following country leaders were present at the summit:

  • President George W. Bush of the United States of America
  • President Carlos Fernandez of Argentina
  • Prime Minister Kevin Rudd of Australia
  • President Luiz Inacio Lula da Silva, of Brazil
  • Prime Minister Steven Joseph Harper, of Canada
  • President Hu Jintao of China
  • President Nicolas Sarkozy of France
  • Chancellor Angela Merkel of Germany
  • President Mammohan Singh of India
  • President Susilo Bambang Yudhoyono of Indonesia
  • President Silvio Berlusconi of Italy
  • Prime Minister Taro Aso of Japan
  • President Felipe Calderon Hinojosa of Mexico
  • Prime Minister Jan Peter Balkenede of Netherlands
  • President Lee Myung-bak of the Republic of Korea
  • President Dmitry Medvedev of Russia
  • King Abdullah Bin Abdulaziz of Saudi Arabia
  • President Kgalema Motlanthe of South Africa
  • President Jose Luis Rodriguez Zapatero of Spain
  • Prime Minister Recep Tayyip Erdogan of Turkey
  • Prime Minister Gordon Brown of the United Kingdom
  • Jose Manuel Barroso who is the President of the European Commission.

The country leaders discussed what had happened to cause the financial crisis. They talked about how they can work together to take action and heal the world’s economy.

The country leaders accomplished many things at this summit. They discovered the cause of the economic and financial crisis. They agreed on the financial principles that are needed to reform the global financial markets. They agreed that all nations need to work together to end the financial crisis.

The leaders decided to take action and stimulate their economies, strengthen the world’s financial and banking institutions, unfreeze credit markets, and strength the capital that banking and financial institutions have.

All in all, the summit was very productive. It is good that the country leaders want to take a global approach to fixing the economy.

The Asian Pacific Economic Cooperation Summit was held on November 22-23 2008 in Lima, Peru. Twenty one countries make up the Asia-Pacific Economic Cooperation. These countries include: Australia, Brunei, Canada, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, Republic of China, Hong Kong, People’s Republic of China, Mexico, Papua New Guinea, Chile, Peru, Russia, and Vietnam.

The following country leaders attended the Asia Pacific Economic Cooperation Summit in November 2008:

  • Prime Minister Kevin Rudd of Australia
  • Sultan Hassanal Bolkiah of Brunei
  • Prime Minister Stephen Harper of Canada
  • President Michele Bachelet of Chile
  • President Hu Jintao of People’s Republic of China
  • Lien Chien of Republic of China
  • Chief Executive Donald Tsang of Hong Kong
  • President Susilo Bambang Yudhoyono of Indonesia
  • Prime Minister Taro Aso of Japan
  • President Lee Myung- bak of Republic of Korea
  • Prime Minister Abdullah Ahmad Badawi of Malaysia
  • President Felipe Calderon of Mexico
  • Prime Minister John Key of New Zealand
  • Prime Minister Sir Michael Somare of Papua New Guinea
  • President Alan Garcia of Peru
  • President Gloria Macapagal-Arroyo of Philippines
  • President Dmitry Medvedev of Russia
  • Prime Minister Lee Hsien Loong of Singapore
  • Prime Minister Somchai Wongsawat of Thailand
  • President George W. Bush of the United States of America
  • President Nguyen Minh Triet of Vietnam

The leaders discussed the need for corporate social responsibility, the financial crisis, climate change, corruption, trade liberalization and many more global issues.

The country leaders decided to continue to back free trade. They also wanted to reform the world’s banking and financial institutions to help stop a recession from occurring. The leaders agreed to not impose any new trade barriers in the next year to help deal with the economic crisis and allow free trade to continue to happen.

These two economic summits are a step in the right direction. We need world leaders to communicate and come up with ways to help make the world’s economy stronger. The last few years have been hard on the economy so it is important for the global economic issues that we face to be dealt with in a timely fashion. Hopefully, these country leaders will be able to implement these ideas and boost the world’s economy.

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