Source: CCTV.com
04-03-2009 18:02
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Background Report:
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Intro:
Hello, I am Yang Rui with Dialogue brought to you live from Beijing. Cynics would argue that the G-20 summit in London would be nothing short of a big photo opportunity. They say that it is virtually impossible to address the global monetary crisis and economic recession within four hours.
There is a serious divide between the German-French axis and the debt-based US and UK consumption over the issue of banking regulations and stimulus package. Unity is hard to achieve since Russia and China have proposed a shift from the dollar-dominated world reserve currency.
But, despite the walkout threats from President Sarkozy, Chinese president Hu Jintao and his American counterpart Barrac Obama demonstrated unity when they met on the sidelines before the opening of the second G-20 summit. These two world leaders agreed to set up an annual bilateral strategic and economic dialogue to upgrade the existing economic disputes settlement mechanism of the two large economies.
We are joined live here by Mr. Henry Wang Huiyao, vice president of the Western Returned Scholars Association, and Mr. Brandon Blackburn-Dywer.
