【明報專訊】A G-20 Finance Ministers Summit took place in Seoul (首爾), South Korea, in mid-October this year. Finance ministers from twenty countries gathered there to discuss global financial issues. America's attempt to have China devalue the yuan was strongly resisted. The Summit only had one conclusion. Countries agreed not to devalue their respective currencies to make their exports more competitive. America also suggested limiting a country's trade revenue to 4% of its GDP (gross domestic product). It was opposed by China and Germany.
The conference paved the way for a summit scheduled for November which heads of state and government will attend. South Korea decided earlier that the focus of the November summit should be "green growth (綠色增長)" - efficient, environmentally-friendly societal development. The South Korean government said the Seoul summit should be about new growth motivation rather than concerted efforts to deal with the global financial crisis and therefore South Korea's experience of "green growth" could be a case in point. It said it believed "green growth" could play an important role in fostering both developed and developing countries' development.
■Did you know...
G-20 Finance Ministers and Central Bank Governors was formed in 1999 in response to the financial crisis in the late 1990s. It aims to gather important industrialised and developing economies together to discuss key issues of the global economy. The first G-20 meeting, which took place on 15 December 1999, was hosted by Germany's and Canada's finance ministers.
■Keywords
government……政府
international collaboration……國際協作
■Questions
1.What was discussed at the summit of G-20 finance ministers?
2.What is likely to be the focus of the G-20 summit scheduled for November?
3.Do you think the focus appropriate? Are there any other pressing issues of the global economy that should be discussed?
■Further reading
1.BBC. "G20 finance ministers meet in South Korea", 2010.10.22
2.G-20 (Official Website): http://www.g20.org
