Oct 28, 2010

*G20 Summit* ~ Seoul, South Korea

For those of you out there who are living here in South Korea are probably completely unaware that this year, one of the biggest global leader "get-together's" is being held here in Seoul on the 11th & 12th of November this year. 

Apart from meaning that it will be nearly impossible to visit Seoul for some last minute Christmas shopping...what's the big deal right? What is the G20 Summit anyway?

According to everyones favourite web dictionary, Wikipedia:
"The Group of Twenty Finance Ministers and Central Bank Governors (G-20, G20, Group of Twenty) is a group of finance ministers and central bank governors from 20 economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank...Collectively, the G-20 economies comprise 85% of global gross national product, 80% of world trade (including EU intra-trade) and two-thirds of the world population.
The G-20 studies, reviews, and promotes discussion (among key industrial and emerging market countries) of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization". 
From last years Pittsburgh Summit, The G-20 Finance Ministers were tasked to take action in the following areas;
  • Framework for Strong, Sustainable, and Balanced Growth
  • Strengthening the International Financial Regulatory System
  • Modernizing our Global Institutions to Reflect Today's Global Economy
  • Reforming the Mandate, Mission, and Governance of the IMF
  • Reforming the Mission, Mandate, and Governance of Our Development Banks
  • Energy Security and Climate Change
  • Strengthening Support for the Most Vulnerable
  • Putting Quality Jobs at the Heart of the Recovery
  • An Open Global Economy

Behzad Shahandeh at the Korean Times has the following to say about the up and coming Summit;
"South Korea needs to play an even greater role than it did at the London Summit by depicting itself as an emerging economic power. This entails adopting action programs and balancing agenda items on such divisive issues as the one involving China and the United States in relation to the devalued Chinese yuan. 
As an example of the positive image that South Korea already has ushered in is its contribution to the United Nations Peacekeeping Operations, which is a plus for the nation’s image, and must be duplicated in other areas of international voluntary work. An important effort to ponder upon here is to enhance Seoul’s economic and humanitarian help to North Korea regardless of any other considerations, as rising above politics will go long a distance in presenting the real Korea and its rich heritage of caring for others.
The Seoul G20 meeting will enable Korea to present its soft power based on a long history, rich civilization, cultural values ― especially the family ties so rare in a world confronted with family crisis ― and bountiful natural scenery. The beauty of Korea’s natural sceneries could be promoted through international tours through which foreign visitors would be able to discover this well-preserved environment, while at the same time experiencing the deeply-rooted sense of hospitality of the people".
 So what do you guys and girls think? Will Korea be able to show the world that its a real contender in the economy? That it's making a real stand against global warming and that its all for "going green"??
(or am I just a girl with a BA in English literature teaching English to little kiddies...). Let us know your thoughts!


Oh thought this was quiet worth noting considering we are SOUTH AFRICANS living in SOUTH KOREA:

"President Lee Myung-bak began making phone calls to leaders of the Group of 20 nations to ask for support in the upcoming summit in Seoul.
Lee on Wednesday called South African President Jacob Zuma and Turkish Prime Minister Recep Tayyip Erdogan, Lee’s spokesperson Kim Hee-jeong said.
Lee thanked Zuma for South Africa’s active role as the joint chief of working groups for IMF reform and development, and for his planned participation in the G20 business summit.
“Please take special interest in the development agenda. Your interest in setting up action plans for the coming years would greatly help African nations,” Lee was quoted as saying by Kim.
Zuma replied that it was highly meaningful that the upcoming summit will be held outside the G8 nations" Korean Herald
Good on you Zuma :)

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