Daily News Channel
This week’s London Summit brings together the leaders of the world’s 20 largest economic powers, known as the Group of 20, to discuss the global financial crisis and decide new measures to set the world on a more stable economic footing. British Prime Minister Gordon Brown, who hosts Thursday’s talks, has set a bold agenda for this year’s summit, calling on governments to sign up to a “global deal” to haul the world out of the crisis triggered by the collapse of the banking system.
Finance ministers from the Group of 20 industrialized and developing economies are meeting near London on Saturday to discuss a common approach on how to tackle the global economic crisis. The London G-20 summit on April 2 was initially going to focus on financial markets and regulation, but the deepening crisis around the world has highlighted the need for a broader economic package. This plan includes everything from stimulus packages to uneven interest rates, said Mark Malloch-Brown, British Prime Minister Gordon Brown’s envoy to the summit.
As the economic tsunami continues to rage across the planet, the near universal refrain has been that joint action is needed to pull us out of the crisis. But when it comes to stimulus spending, the United States and Europe have taken different paths, jeopardizing hopes of a united front to combat the downturn. President Barack Obama this week urged the world’s top economies to adopt aggressive, American-sized spending programs.
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The U.S. and China have proved that opposites do indeed attract — even economically speaking. China is thrifty to a fault; the U.S.
When China’s legislature opens its annual session this week, the focus will be on jobs, the economy and social stability. Every year, over 3,000 delegates to the National People’s Congress meet in Beijing to review draft laws and vote on government budget and policies
Global stock markets were reeling Monday as U.S. insurance giant AIG revealed losses of $62 billion — the largest quarterly loss in corporate history. In a statement issued Sunday, the U.S
European Union leaders have agreed to provide "appropriate" aid on a case-by-case basis to member nations battered by the global economic downturn, the union’s current president said Sunday. Czech Prime Minister Mirek Topolanek called reports of a split over threats of protectionism an “artificial” controversy over-dramatized by news outlets, and said the EU would use its tools “to the full extent” to offset the impact of job losses among its 27 members. “There has been a clear decision that all member states will get the appropriate assistance in the cases where appropriate,” Topolanek said during an emergency summit in Brussels.
China accused the United States of interfering in its internal affairs and those of other nations on Thursday after the State Department issued a report sharply critical of Beijing’s human rights record, state-run media reported.
Could the deepening global recession boost the flagging efforts of Osama bin Laden to challenge the established global order?