G20 And Global Economic Crisis!!

g20

As the world grapples with the biggest crisis since Great Depression, the leaders at the G20 summit meet at Washington to focus on ways to stimulate global growth, free up credit—and look at a coordinated response. 

The G-20 brings together major industrial and emerging-market countries from all regions of the world. Together, member countries of the forum represent around 90 per cent of global gross national product and 80 per cent of world trade as well as two-thirds of the world’s population. 

At the G20 meet, held to discuss steps to deal with the current financial upheaval, India cautioned the West against protectionist policies to tide over the crisis.

In his address at the summit, Prime Minister Manmohan Singh said that the problem, which has appeared localised, has exploded into a systemic crisis.

India has expressed hope that the G20 summit would send the right signals by agreeing on a stimulus package to restore major economies back to normalcy and prevent situation from deteriorating further.

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