Leaders Start to Gather in Seoul for the G20 Summit
- 13 years ago
Mexican and Saudi Arabian leaders arrived in South Korea on Wednesday for the fifth annual meeting of G20 leaders.
Mexican President Felipe Calderon arrived in Seoul first, followed by Saudi Arabian Foreign Minister Prince Saud al-Faisal, in preparation for this year’s Group of 20 summit.
The G20 represent the world’s most up-and-coming economies, making up around 85 percent of global economic output.
This year the G20 leaders are expected to discuss the progress of global economic recovery, and try to relieve some trade tensions and currency imbalances.
The U.S. and other nations have been gently persuading China to allow its yuan to rise faster, accusing Beijing of undervaluing it to obtain a trade advantage.
But the U.S. Federal Reserve’s recent decision to print more money could also be seen by some as an attempt to weaken the dollar.
Another key issue unofficially set for discussion is the easing of tensions between Japan and China over a disputed island chain, rich in gas and oil reserves, in the East China Sea.
Chinese and Japanese leaders are expected to arrive in Korea today (Thursday).
Mexican President Felipe Calderon arrived in Seoul first, followed by Saudi Arabian Foreign Minister Prince Saud al-Faisal, in preparation for this year’s Group of 20 summit.
The G20 represent the world’s most up-and-coming economies, making up around 85 percent of global economic output.
This year the G20 leaders are expected to discuss the progress of global economic recovery, and try to relieve some trade tensions and currency imbalances.
The U.S. and other nations have been gently persuading China to allow its yuan to rise faster, accusing Beijing of undervaluing it to obtain a trade advantage.
But the U.S. Federal Reserve’s recent decision to print more money could also be seen by some as an attempt to weaken the dollar.
Another key issue unofficially set for discussion is the easing of tensions between Japan and China over a disputed island chain, rich in gas and oil reserves, in the East China Sea.
Chinese and Japanese leaders are expected to arrive in Korea today (Thursday).