During the G20 Summit in Los Cabos, Mexico, China and several other emerging economies pledged to raise their IMF contributions. This not only marked a major achievement from the meeting, but also demonstrated the growing role of the emerging economies on the world economic stage. It also signified the willingness of the emerging economies to pull Europe and the world as a whole out of the current crisis by enhancing their IMF contributions.
The G20 Leaders’ Summit in Los Cabos, Mexico is meeting at a time of extreme complexity in the world economy. This premium forum for international economic affairs is encountering re-emerging signs of financial crisis and economic recession in euro zone economies. But adding to the complexity is that the US government and Congress still cannot forge a clear long-term fiscal consolidation plan.
Paraphrasing what existentialist philosopher Albert Camus said about suicide, most of the serious problems of contemporary world affairs are questions about interdependence. By now the realities of globalization are familiar to people throughout the world who are no longer surprised by the links and networks that connect them. Yet governments have struggled to come to [...]
China and the United States are located on the two sides of the Pacific Ocean. The two countries have more overlapping interests and more frequent interactions in the Asia-Pacific than anywhere else. Their regional policies and interactions have a major bearing on the development and stability of the region and are taken very seriously by [...]
During the BRICS Summit in New Delhi on April 8 2012, the leaders of the five developing countries agreed to “enhance intra-BRICS trade” and agreed on an accord on extending a credit facility in their own currencies. In their joint declaration the BRICS leaders made another important step in cooperation as they stated: “We have [...]
As a responsible member of international society, China arguably has a duty to help sustain the international system that enabled its rise. To some extent, this implies it cannot stand by indifferently while eurozone economies unravel. That said, there are other compelling domestic interests and concerns that China can ill afford to ignore.
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