On April 2, heads of state from the Group of Twenty (G-20), which represents twenty of the world's leading and major emerging economies, meet in London to discuss the international response to the global economic crisis. The following is an outline of which policy issues will command the most attention for each of the G-20 members.
While each of the twenty members of the G-20 technically has equal power, experts say Argentina, which represents one of the smallest economies involved, will have more limited influence than most. President Cristina Fernandezde Kirchner recently held meetings (Prensa Latina) with Brazil's President Luiz Inacio Lula da Silva to try to coordinate their stances ahead of the summit. The two leaders indicated they will come to the summit with a joint proposal (LatAm Herald Tribune) for financial reform. But CFR's Shannon O'Neil says coordination among the three Latin American countries at the summit-Argentina, Brazil, and Mexico-will be scattered. Argentina favors a relaxation of certain International Monetary Fund (IMF) restrictions on loan recipients, she says, while Mexico and Brazil are more concerned with trade policy and tighter financial regulations-issues of lesser direct concern to Buenos Aires. Experts say Argentina might also push for increased IMF voting rights for emerging countries.
In the final days before the G-20 summit, Prime Minister Kevin Rudd has been coordinating with allies, like British Prime Minister Gordon Brown, and speaking publicly about the need for global coordination and improved financial regulation. Addressing the Peterson Institute for International Economicsin Washington on March 26, Rudd spoke of the failed London Monetary and Economic Conference of 1933 and the economic stagnation that resulted from countries' insistence on handling their problems in isolation. Rudd met with Brown on March 30,...