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Conferences – Summits
|5th East Asia Summit||Hanoi|
|Convention on Biodiversity Conference||Nagoya||Adoption of ‘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
- 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 US 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.