G7 sees double, feeling force of emerging economies
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China joined the Group of Seven nations for talks on the global economy on Saturday, marking an effective expansion of the club which may also admit other emerging economic powerhouses to almost double its ...Comment
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MEXICO CITY, Jun 5 (IPS) - The Mexican government says it feels comfortable  forming part of the five countries identified by the world's  richest nations as the "emerging powers." However, it has  marked differences and even conflicts with China and Brazil, two  other members of the so-called Group of Five
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Finance ministers and central bank chiefs from the world's 20 most powerful nations were gathering for a weekend G20 summit in which exchange rates are expected to figure prominently.
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The G24 group of developing nations demands a bigger say at the International Monetary Fund and World Bank.
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Finance ministers and central bankers of the Group of 20 countries (G20) kicked off a two-day meeting here Saturday to assess the current economic situation and global growth prospects.
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Worries about government actions to cool economic growth reverberate around the globe.
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The Group of Seven rich nations took   aim at China on Saturday, urging Beijing to let its currency   rise faster to ease imbalances in trade and capital flows that   pose one of the biggest risks to global growth.
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The finance ministers and central bankers of the world's seven wealthiest countries met with their counterparts from the world's fastest growing economies on Saturday as clues about the group's planned communique became more apparent.
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The world's leading industrial  countries are enjoying strong growth but face the risk of  rising inflationary expectations, tight energy markets and  spreading protectionism, a draft communique of the Group of  Seven rich nations says.
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ESSEN, Germany  - The G7 industrial powers were set to repeat appeals for flexible exchange rates and warn again against currency volatility but stop short of singling out the sliding yen for overt criticism at a meeting on Saturday.
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Pacific Rim finance ministers called on   Friday for some emerging Asian economies to show greater   currency flexibility to address global imbalances and for the   group to work toward reviving world trade talks.
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BERLIN, May 24  (IPS) - With two weeks to go to this year's summit of  heads of state and government of the world's eight most  industrialised countries (G8), respect for demonstrators'  rights and the fulfilment of the group's economic aid  promises for Africa are at the heart of the preparations.
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East Asian economic growth is expected to reach more than 7 per cent in 2004 but has probably already peaked in the first half of the year, according to the World Bankâs latest twice-yearly update on the region.
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The world economy, powered in part by China, will grow this year at its briskest pace in almost three decades -- five percent -- before losing steam in 2005 in the face of higher oil prices, the IMF said.
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Economic growth is expected to top 7 percent for East Asia and Pacific (excluding Japan) in 2004, while developing economies in the region are expected to expand by more than 8 percent, the World bank said here on Tuesday.
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The G7 wealthy nations on Saturday  predicted solid economic growth and subdued inflation this year  while repeating currency declarations that some economists  believe could limit the dollar's decline.
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ESSEN, Germany  - The G7 economic powers urged China on Saturday to loosen state control of its exchange rate and addressed a slide in the yen by urging financial markets to take account of Japan's strengthening economy.