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September 2009

The G20 Pittsburgh Summit Concludes: Main Outcomes and Next Steps

Ihssane Loudiyi's picture

On September 24-25, twenty world leaders met for the third time this year and reiterated their common goal for global cooperation on the road to recovery from the financial crisis. The G20, which includes developed nations and fast-growing emerging economies such as Brazil, China and India, accounts for about 90% of the world’s economic activity; it is quickly replacing the G8 as the leader of world economic management.

The following important points emerged during the Summit:

Decoupling, Reverse Coupling and All That Jazz

Otaviano Canuto's picture

(By Otaviano Canuto)

In PREM Note 141 released last week, Milan Brahmbhatt and Luiz Pereira da Silva point to several structural differences between the global economy today and in the 1930s that tend to differentiate the current crisis from the Great Depression. The larger weight of faster-growing developing countries in the current world economy is among those differences, one that bodes well for recovery prospects.[1]