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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

President of Argentina, Cristina Fernández de Kirchner. © Getty Images

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

Australian Prime Minister, Kevin M Rudd. © Getty Images

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

President of Brazil, Liuz Inacio Lula Da Silva. © Getty Images

Brazil has the tenth-largest economy in the world.  It is a diversified middle income economy, but with wide variations in development levels.

Canada

Canadian Prime Minister, Stephen Harper. © Getty Images

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

Chinese President Hu Jintao. © Getty Images

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

Prime Minister of the Czech Republic, Mirek Toplanek. © Getty Images

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

Finance Minister of Egypt and Chair of International Monetary and Finance Committee and Finance Minister of Egypt (IMFC), Dr Youssef Boutros Ghali. © Getty Images

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

Meles Zenawi of Ethiopia and Chair of the New Partnership for Africa's Development (NEPAD). © Getty Images

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

French President, Nicolas Sarkozy. © Getty Images

France’s major industries are aerospace, automotive, pharmaceuticals, industrial machinery, food and drink and tourism.

Germany

Angela Merkel, German Chancellor. © Getty Images

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

Indian Prime Minister, Manmohan Singh. © Getty Images

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

Indonesian President, Susilo Bambang Yudhoyono. © Getty Images

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 Prime Minister, Silvio Berlusconi. © Getty Images

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

Prime Minister of Japan, Taro Aso. © Getty Images

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

President of Mexico, Felipe de Jesús Calderón Hinojosa.  © Getty Images

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

Prime Minister Jan Peter Balkenende. © Getty Images

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

Russian President Dmitry Medvedev. © Getty Images

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

Abdallah bin Abdulaziz al-Saud, the Crown Prince of Saudi Arabia. © Getty Images

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 African President, Petrus Kgalema Motlanthe. © Getty Images

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

South Korean president Lee Myung-Bak. © Getty Images

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

Spanish Prime Minister Jose Luis Rodriguez Zapatero. © Getty Images

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

Prime Minister of Thailand, Abhisit Vejjajiva. © Getty Images

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 Primie Minister, Recap Tayyip Erdogan. © Getty Images

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

British Prime Minister, Gordon Brown. © Getty Images

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

US President, Barak Obama. © Getty Images

The United States of America is the leading industrial power in the world. It has a highly diversified and technologically advanced economy.

Key to map pins

  • Purple - G20 countries
  • Red - Summit invitees

 

In your language

We've translated some of our content. Follow the global conversation in Argentina, Brazil, Canada, France, Germany, Italy, Japan, South Korea, Mexico, Spain, Saudi Arabia or Turkey in Global update.

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African Perspectives/ Recommendations to the G20

UK Prime Minister Gordon Brown (C) meets with African leaders, finance ministers and bank governors at a 'Pre-London Summit Africa Outreach Event' at Lancaster House in London. © Getty Images

The Committee of African Finance Ministers and Central Bank Governors established to monitor the crisis report, 'Impact of the crisis on African economies - Sustaining growth and poverty reduction.'

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Editors' blog