Wednesday, September 23, 2009

The G20 Summit Pittsburgh and Global Economy….

The G20 Summit starts on Thursday. The United States in Pittsburgh city is hosting this summit with the group of 20 rich and developing countries with the main agenda of rebalancing of the world economy.

We are recovering from the worst financial crisis of the decades and it happened only due to globalization of different nations. Many countries played a very important role and joined hand together to help us in financial crisis period in US. Not to forget but under developing countries like India and china played a major role by helping US with a huge monetary amount in crisis period, Previously this countries used to take help of America But no one thought that the contribution of this small countries would make a big difference in US economy in recession. When Lehman brothers collapsed and most powerful and developed country like America was suffering from extreme financial crisis, these small developing countries like India and china were still doing well with their economy and also helped US.

So this summit will be an important one as every one will be eyeing on what value IMF will give to this countries, what will be their position and role in future to balance the world economy. How they are going to help these countries in terms of monitory fund and advanced technology to develop, so that they will be also ready to fight any situation that may arise in future. The focus will be on how to bring all nations together be it developed or underdeveloped countries to think and work on the global economy concerns.

Let’s keep an eye on the Summit and hope for the best…….

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