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WORLD
November 2, 2011 | By Don Lee and Christi Parsons, Los Angeles Times
They had hoped to use the occasion to turn the page on the European debt crisis, to focus their attention on the struggling global economy and find a formula for collective action that would get businesses to hire and consumers to spend. Instead, leaders of 20 major economies who gathered in Cannes, France, for their annual summit find themselves once again preoccupied with Greece's financial and political problems, fighting a fire they had hoped was on its way to being contained.
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WORLD
March 31, 2011 | Reuters
French President Nicolas Sarkozy called on Thursday for a reform of global nuclear standards by the end of the year during a first visit by a foreign leader to Japan since the earthquake and tsunami that triggered its atomic disaster. Group of 20 Chairman Sarkozy said France wants to host a meeting of the bloc's nuclear officials in May to fix new norms in the wake of the crisis at Japan's Fukushima Daiichi plant. Japan's Prime Minister Naoto Kan supported the idea. "In order to avoid recurrence of such an accident, it is our duty to accurately share with the world our experience," he said at a joint news conference.
WORLD
November 13, 2010 | By Don Lee, John M. Glionna and Christi Parsons, Los Angeles Times
The United States apparently will have to go it alone in dealing with its fragile economy and near-double digit unemployment after the Group of 20 summit ended Friday with no commitment to immediate action to reduce trade and currency tensions. A U.S. proposal to set numerical limits on trade surpluses and deficits was rejected. Leaders of the world's 20 biggest economies pledged only to develop "indicative guidelines" to assess imbalances in the first half of 2011. They also refused to endorse a U.S. effort to force China to raise the value of its currency.
WORLD
November 12, 2010 | By Christi Parsons, John M. Glionna and Don Lee, Los Angeles Times
President Obama appeared to fall short in his attempt to forge a unified approach to boosting the global economy as a frequently rancorous meeting of world leaders seemed set to conclude in Seoul on Friday without agreement on specific steps to avert damaging currency and trade wars. Leaders of the world's biggest economies showed that they were in no mood to compromise during the two-day summit. Instead, they were headed toward broad, general pledges that did little to mask their inability to find common ground for immediate action.
WORLD
November 12, 2010 | By Christi Parsons, John M. Glionna and Don Lee, Los Angeles Times
The leaders of the world's 20 major economies on Friday ended a frequently rancorous two-day summit in this northeast Asian capital without reaching agreement on specific steps to avert damaging currency and trade wars. There were far more setbacks than gains, but President Obama suffered the biggest disappointment, falling short in his attempt to forge a unified approach to boosting the global economy. In one blow, G-20 members refused to endorse a U.S. effort to force China to raise the value of its currency, prolonging a bitter dispute that many say could eventually lead to a global trade war. Before world leaders left the city, they issued a watered-down statement agreeing merely to refrain from "competitive devaluation" of currencies.
NEWS
November 11, 2010 | By Michael Muskal, Los Angeles Times
While avoiding specifics, President Obama on Thursday warned there were tough decisions ahead on debt and deficits and said that any action would require a bipartisan approach. Speaking at a news conference in Korea before a meeting of G-20 economic nations, Obama discussed international trade and economic stimulus issues and commented on his debt-reduction commission’s draft proposals released Wednesday. The plan, which has been attacked by liberals and conservatives, calls for cuts in Medicare and defense spending, an extension of the Social Security retirement age and some revenue increases along with tax reform.
WORLD
November 11, 2010 | By Don Lee, John M. Glionna and Christi Parsons, Los Angeles Times
President Obama predicted that leaders of the world's most powerful economies will reach "a broad-based consensus" on trade and currency issues, despite sharp differences among member nations as the G-20 summit began Thursday. The first session of the two-day meeting in Seoul yielded few if any tangible gains for an American president hoping to sell world leaders on policy changes that could help revive a flagging U.S. economy and bolster job growth. And the meager signs of progress added to concerns that, after pulling together during the global economic crisis, leaders of the major economies ?
WORLD
November 11, 2010 | By John M. Glionna, Los Angeles Times
The barricade rose under cover of darkness, a mile-long wall of tough polyurethane and bulletproof glass that transformed the nation's largest mall and convention center into a South Korean version of Fort Apache. As workers scurried overnight Wednesday to apply the finishing touches, the 7-foot-high security fence surrounding the site of Seoul's G-20 economic summit resembled something more apt to be seen in repressive North Korea than in one of the planet's newer democracies. "We'll have it up by dawn," said a worker wearing a yellow hard hat. The wall encircling the Coex convention and exhibition center in the capital's fashionable Gangnam district is designed to offer peace of mind to foreign dignitaries converging here for two days of meetings that start Thursday, security officials say. Similar barriers were set up at economic summits in London, Toronto and Pittsburgh to protect international leaders in the face of frequently violent demonstrations.
WORLD
November 10, 2010 | By John M. Glionna, Los Angeles Times
The Group of 20 summit set to begin here Thursday may have already dodged one major crisis: the golf ball protest. Residents of a shantytown engaged in a development dispute with government officials planned to hurl hundreds of golf balls over the security fence as leaders of the world's top economic powers huddled at a mall complex in central Seoul. But nervous officials struck a deal to avert the public dissent, agreeing to hear the protesters' grievances after the two-day summit ends.
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