Global update
This website was the global hub for debate for the London Summit, which highlights contributions to this global conversation from around the world - including in local languages.
We concentrated on the debate in countries whose economies have a strategic part to play in restoring the world economic system. But for a balanced debate, we also highlighted the debate in all countries significantly affected by the global crisis.
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Argentina
Since 2003 Argentina started a process of strong growth that has averaged nearly 9% in the last 5 years. For 2008, growth is expected at around 5%.
Australia
Almost two decades of continuous economic growth, a low unemployment rate and a strong banking system - the result of a series of structural and policy reforms - have left Australia well placed in the face of a global economic downturn.
Brazil
Brazil has the tenth-largest economy in the world. It is a diversified middle income economy, but with wide variations in development levels.
Canada
Canada’s major industries are automobile manufacturing, pulp and paper, iron and steel work, machinery and equipment manufacturing, mining, extraction of fossil fuels, forestry and agriculture.
China
China is the world's third-largest economy. Its economy grew by 9% in 2008. Its trade surplus in 2008 was $295 billion. China holds the world's largest stock of foreign exchange reserves, at over $1.9 trillion.
Czech Republic
The Czech Republic is one of the most stable and prosperous of the post-communist states. Economic growth has been driven, in particular, by high levels of foreign direct investment, domestic consumer spending, and Czech exports.
Chair of the International Monetary and Financial Committee - Egypt
Egypt has a stable economy in the Middle East and North Africa enjoying continuous growth, averaging 4–5% in the past 25 years. Main exports include natural gas, cotton textiles, medical and petrochemical products, cement, steel and ceramics.
Ethiopia
The New Partnership for Africa's Development (NEPAD) is an economic development program of the African Union. NEPAD was adopted at the 37th session of the Assembly of Heads of State and Government in July 2001 in Lusaka, Zambia.
France
France’s major industries are aerospace, automotive, pharmaceuticals, industrial machinery, food and drink and tourism.
Germany
Germany is the world’s largest exporter and the second largest importer. It is also the UK’s second largest export market worldwide, after the US.
India
Economic reforms have placed India firmly on the path of sustained economic growth, needed to alleviate poverty and allow India to claim its place as a global economic power.
Indonesia
Economic growth has been above 5% in the past five years. Real GDP grew by 6.3% in 2007, the fastest rate since the Asian financial crisis of 1997-98.
Italy
Italy’s economic strength is in the processing and manufacturing of goods, primarily in small and medium sized family-owned firms. Major industries include precision machinery, motor vehicles, chemicals and pharmaceuticals.
Japan
Following fiscal and monetary stimuli in the 1990s, Japan’s economy has experienced an expansion lasting as long as the longest previous expansion, which ended in 1970.
Mexico
Mexico's economy is the world’s thirteenth largest: about the same size as South Korea's and Russia's. It is a free market economy, with a mix of services, industry and agriculture.
Netherlands
The Netherlands' prosperous and open economy is noted for stable industrial relations, moderate unemployment and inflation, a sizable current account surplus, and an important role as a European transportation hub.
Russia
From 1999 to 2008, the economy benefited from strong growth, averaging about 7% per annum. This growth was accompanied by budget surpluses (4% in 2008), allowing the Russian government to accumulate reserves of almost $600bn.
Saudi Arabia
Saudi Arabia has applied to join the World Trade Organisation and is in the process of negotiating the terms of its entrance. Saudi Arabia has the largest proven oil reserves in the world and is by a long way the largest exporter of oil.
South Africa
South Africa is a middle-income, emerging market with an abundant supply of natural resources and a stock exchange that is 17th largest in the world.
Republic of Korea
The Republic of Korea was ranked the 13th largest economy in the world in terms of GDP in 2006. The Republic of Korea's main industries are steel, shipbuilding, automotive, electronics and machinery.
Spain
Spain has the eighth largest economy in the world. Spain's per capita income is higher than the European average. It is a very open economy, with one of the lowest public debt/GDP ratios amongst advanced economies.
Chair of the Association of South East Asian Nations (ASEAN) - Thailand
Thailand is Southeast Asia's 2nd largest economy, with exports playing a key role in its growth. While still a major player in rice and other commodities, it has diversified into manufacturing and other industries. It is currently Chair of ASEAN.
Turkey
Turkey's major industries are automotive, textiles, iron and steel, clothing and electrical machinery. Its government has maintained tight fiscal policies and pushed through structural reforms.
United Kingdom
The UK has the fifth largest economy in the world and is a leading global trading nation. London is the world's leading financial services centre on a number of key performance indicators.
United States of America
The United States of America is the leading industrial power in the world. It has a highly diversified and technologically advanced economy.
World views
- Egypt - Ghada Mohamed
- Pakistan - Mohd Jamil Nasir
- Cameroon - Francis Menjo Baye
- Brazil - Martin Fortis
- Pakistan - Muhammad Saqib Aziz
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Vietnam - Minh Duc Luu
Key to map pins
- Purple - G20 countries
- Red - Summit invitees
In your language
Follow the global conversation in Argentina, Brazil, Canada, France, Germany, Italy, Japan, Mexico, Republic of Korea, Spain, Saudi Arabia or Turkey in Global update.
Position papers
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African perspectives/ recommendations to the G20
- Brazil - The future of human beings is what matters
- India - Key issues for the London Summit
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Netherlands - Key tasks for the London Summit
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Russia - Proposals to the London Summit April 2009
- Spain - Posición de España
- Thailand - Thai Government priorities for the London Summit
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Turkey - Civil society recommendations to the London Summit
London Summit top stories
African Perspectives/ Recommendations to the G20
Editors' blog
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Time for reflection
05/04/2009 -
The morning after
03/04/2009
YouTube debate
Yu Ping, vice chair of the China Council for the Promotion of International Trade says 'China is in the middle of industrialisation and urbanisation. The momentum of development is still very strong, but domestic demand has a very big potential to be tapped. There can be many, many opportunities.'
Get more views from business on the London Summit.
YouTube debate
South African Finance Minister, Trevor Manuel says the global financial downturn means many African countries are finding their financial circumstances 'a heck of a lot worse … World leaders must conclude the trade round and counteract the temptation to protectionism. We must take collective decisions about our collective future.'
Get more views from Africa on the London Summit.