G20 Leaders to Tout Competing Ideas on Recovery

TV/Radio Broadcast NewsHour with Jim Lehrer
China wants to look like a leader at the G20 summit by highlighting the extent of its stimulus package ($586 billion) as well as the relative health of its financial system.

This week's G20 meeting convenes twenty countries that account for more than 85% of world economic output.  There are clear disagreements between the United States and its European counterparts on how to move the world economy past today's crisis.  To shed light on those disagreements and their implications, Minxin Pei joined Thomas Kleine-Brockhoff, senior director for policy programs at the German Marshall Fund, and Martin Wolf, associate editor and chief economics commentator at the Financial Times, on the NewsHour with Jim Lehrer.

Pei argued that China wants to look like a leader at the summit by highlighting the extent of its stimulus package ($586 billion) as well as the relative health of its financial system.  It worries that its long-term interests will suffer if the United States continues to print money.  At the same, time, however, it does not want to take the lead in opposing American positions, so it will most likely serve as an intermediary between the Europeans and Americans lest anyone think that China is overreaching.  Pei also noted that China feels "let down" by the United States because it has attempted, for the last 20 or 30 years, to emulate an economic system whose intellectual foundations have now collapsed. 

End of document
Source http://carnegieendowment.org/2009/04/01/g20-leaders-to-tout-competing-ideas-on-recovery/2d7s

In Fact



of Brazilian protesters

learned about a massive rally via Facebook or Twitter.


million cases pending

in India’s judicial system.

1 in 3


now needs urgent assistance.


political parties

contested India’s last national elections.


of Egypt's labor force

works in the private sector.


years ago

Carnegie began an internship program. Notable alumni include Samantha Power.


of oil consumed in the United States

is for the transportation sector.


of Chechnya’s pre-1994 population

has fled to different parts of the world.


of oil consumed in China

was from foreign sources in 2012.


of Syria’s population

is expected to be displaced by the end of 2013.


million people killed

in Cold War conflicts.


of the U.S. economy

is consumed by healthcare.


billion in goods and services

traded between the United States and China in 2012.


billion in foreign investment and oil revenue

have been lost by Iran because of its nuclear program.


increase in China’s GDP per capita

between 1972 and today.


billion have been spent

to complete the Bushehr nuclear reactor in Iran.


of Iran’s electricity needs

is all the Bushehr nuclear reactor provides.


new airports

are set to be built in China by 2015.



were imprisoned in Turkey as of August 2012 according to the OSCE.


of the world's population

will reside in cities by 2050.


million Russian citizens

are considered “ethnic Muslims.”

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