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Showing posts from November 13, 2008

G-20 talks will be a photo-op

Business Times - 14 Nov 2008
By LEON HADAR
WASHINGTON CORRESPONDENT

TWO dramatic developments would serve as backdrops for the gathering of the leaders of the world's 20 major economic powers in Washington over the weekend. Hovering over the meetings of the Group of 20 (G-20) would, of course, be the ongoing global financial crisis that has overwhelmed economies around the world, raising the spectre of a worldwide global depression.

At the same time, the summit will also be dominated by a sense of hope that has swept America and the international community in the aftermath of the historic election of Barack Obama as the leader of the world's most powerful economy.

But the charismatic and relatively young Mr Obama, who has committed his incoming administration to reform and revive the American economy and work with US partners to do the same in the global arena, will not be in the room during the meetings this weekend.

The leaders of G-20 economies, who were hoping to meet the US …