Conferences-Summits, Aichi Target, G − 20 Summit, Seoul, November 2010

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Table of Meeting, Place & Highlight at 2010
Table of Meeting, Place & Highlight at 2010

Meeting

Place

Highlight

5th East Asia Summit

Hanoi

Convention on Biodiversity Conference

Nagoya

Adoption of ‘Aichi Target’

Aichi Target

Was adopted at the Nagoya summit of CBD in 2010. It targets to halve the rate of biodiversity loss. Japan has created a $2 bn fund for it.

G-20 Summit, Seoul, November 2010

Image of G-20 Summit, Seoul, November 2010

Image of G-20 Summit, Seoul, November 2010

  • It was evident that with the global crisis abating, the G20 countries have fewer incentives to work together.

  • Currency war was a major issue of contention: China and U.S were not able to bridge their differences.

  • The leaders agreed to avoid a competitive devaluation of their currencies and undertook to seek more balanced growth. However, they put off until next year the contentious task of defining the problems that threaten global recovery.

  • US proposal to fix a cap on deficits and surpluses in current accounts did not find favour

  • Robert Zeolick, ahead of the summit, proposed a return to the gold standard.

  • The important message is that the countries will continue to work together but will not be constrained by any rigid time frame.

  • The most important agreement was G20 endorsed the measures to reform the IMF, a move that would give the developing world a greater say in this global body.

  • Seoul Development Consensus

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