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British media has not been swamped by any international event like the way it has been by the G20 summit. Also called the London Summit, this event has given Gordon Brown a chance to show to the world that the United Kingdom can steer this ship out of troubled waters.
India is trying its best to be heard at the high table. Two qualified Sikhs namely Sherpa Montek Singh Ahluwalia and Prime Minister Manmohan Singh will represent the nation at the G20 Summit.
For all the 20 countries representing 90 per cent of the global economy, this is believed to be a make or break situation or as they would like us to believe. The London Summit is best described by three R's - Restore, Revive and Resist. Restoring confidence in the present world is very crucial. It is necessary on the part of people to start believing that a stable banking system is helpful and not hurtful. Without international banking nothing will work well.
Reviving the world economy is of utmost importance. There is need for some action that has to come from the government.
Europe is up in arms against Obama's magic wand of more fiscal spending, however Angela Merkel maintains that she does not need nay advice on fiscal spending. Gordon Brown is hammering away the need to say no to protectionism. India too has a role to play and be more open minded on WTO related issues.
Hopes are running high and anger is visible on the streets. It seems the outcome will be complex. However, it is better if the 20 leaders have a united front. After all the byline of London Summit is, Growth, Stability & Jobs. ndtv.com
April 1, 2009
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