A low-key G-20 meeting

The first-ever G-20 meeting of Heads of State was a relatively quiet event, without the presence of President-elect Obama. Two main areas seem to have been discussed:

• Regulatory reform, where finance ministers have been given until the end of March to work out new rules for the world’s financial markets
• Fiscal stimulus, where the International Money Fund (IMF) proposed countries should co-ordinate a stimulus of up to 2% of GDP via tax-cuts and spending

The scale of the current crisis means that it is going to take many months to put together a sensible and deliverable strategy for recovery. This will also require co-operation amongst all the major economic powers. The G-20 is certainly the right body to take this type of initiative, rather than the G8. The blog hopes that it is up to the task.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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