Home / Knowledge / News / G-20 Summit raises hopes of curtailing recession
G-20 Summit raises hopes of curtailing recession
23
May '09
The G-20 summit raised high hopes that, the meeting would provide significant impetus for reviving the global economy. The summit's agenda included a stimulus for the revival of economy; coordinated calibration of stimulus measures; avoidance of protectionism, and clamping down on tax havens and reforming the world's financial system by introducing strong regulation and close supervision.

The summit declared an additional $1.1 trillion into the International Monetary Fund, multi-lateral development banks and international trade finance, agreement to crack down taxes, and strengthen the regulation of financial institutions including hedge funds and credit rating agencies.

The summit also reaffirmed the commitment of the World Trade Organization (WTO) to support free trade and check protectionism by the members. Another, encouraging news is its immediate and voluntary commitment of funds to fight back the world recession.

However, the fact remains that the G-20 Summit in London, billed by some as the "New Bretton Woods", is nowhere near the 1944 conference that gave the world its present financial architecture. Despite these arguments, considering the situation of the present global economy, and the extent of crisis, the G-20 Summit could be considered as its worthy successor.

Click here to read the complete article.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search