G20 London 2009


G20: All Systems Go
April 2, 2009, 3:17 am
Filed under: Analysis | Tags: , , , , , ,

morning-2april

Andrew Schrumm  CIGI Research Officer
From the London Summit Media Centre

It’s early morning here in London, and the G20 meetings have just begun. UK Prime Minister Gordon Brown, the eager summit host, is welcoming all the leaders now, in advance of the traditional “family photo”and their working sessions. While the G20 is a fairly new leaders’ grouping, the familiar G8-style of informal interactions (working meals and press briefings) has found its way into the process.

Most significant so far has been the series of bilateral meetings, particularly by US President Barack Obama. As his first major overseas trip, a priviledged few national leaders have had the opportunity to sit down with the president one-on-one. Yesterday, his meetings with both Russian President Dimitri Medvedev and Chinese Presiden Hu Jintao made international headlines – while mainly congenial and a demonstration of good will, these meetings surprisingly engaged in substantive dialogue. With Russia, the US will begin a new conversation on global nuclear disarmament and a broader security agenda. With China, the US is anticipated to launch a renewed dialogue, leading into an official state visit by President Obama to China in late-2009.

Today, we are anticipating the final language on the summit declaration which will outline the G20’s major initiatives to correct the world economy and establish an international financial regulatory framework to avoid future crises. The exact language here must be both cautious and aggressive at the same time; cautious in that leaders will be held to account on their agreements by national groups and international civil society; and agressive in that strong corrective measures are needed to stimulate national economies and bolster international financial institutions.

As posted yesterday, Lord Mark Malloch-Brown (UK’s G20 special envoy) set some clear expectations for the summit declaration, noting that it will avoid setting strict standards on national stimulus programs and will leave climate negotiations to the UNFCCC.  Clearly the G20 won’t be able to accomplish everything in one day – as things continue, CIGI and Chatham House will continue to provide commentary and analysis on develops here in London.

Disclaimer: This blog is solely intended to spur discussion, while the opinions expressed are those of the author(s) and do not necessarily reflect the views of CIGI, Chatham House or their respective Boards of Directors.

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