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G20 leaders meet in Los Cabos

06-19-2012 00:13 BJT Special Report:President Hu Visits Denmark, Attend G20 Summit |

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World leaders are now in Los Cabos for the G20 summit taking place Monday and Tuesday. They are expected to look for solutions on stimulating growth while balancing efforts to rein-in budget deficits.

This is the seventh meeting of G20 leaders since 2008 when the global financial crisis first threatened to plunge the world’s economy into total meltdown. The summit has since become an important forum for leaders to discuss measures like stimulus spending and emergency funding for countries unable to fund themselves in debt markets.

The Group of 20 was originally created in 1999 to bring together policymakers from traditional economic powers like the US, UK and Russia with fast-growing developing economies such as China and Brazil. The 20 industrialized and developing countries represent more than 80 percent of world economic output.

Editor:Wang Shuo |Source: CNTV.CN

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