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2010 G20 Seoul summit

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For broader coverage of this topic, see G20.

G20 Summit on Financial Markets and the World Economy
5th G20 summit
← 4th 11–12 November 2010 6th ⊟
World leaders at the 2010 G20 Seoul summit
Host country South Korea
Venue(s)COEX Convention & Exhibition Center
CitiesSeoul
ParticipantsG20
Invited states: Ethiopia, Malawi, Singapore, Spain, Vietnam
Invited organizations: ASEAN, AU, FSB, 3G, ILO, IMF, NEPAD, OECD, UN, WBG, WTO
ChairLee Myung-bak

The 2010 G20 Seoul Summit was the fifth meeting of the G20 heads of government/heads of state, to discuss the global financial system and the world economy,[1] which took place in Seoul, the capital of South Korea. South Korea was the first non-G8 nation to host a G20 leaders' summit.[2]

The G20 is the premier forum for discussing, planning, and monitoring international economic cooperation.[3]

The theme of the summit was "Shared Growth Beyond Crisis".[4]

Agenda

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The summit leaders addressed several mid- and long-term policy issues,[5] including

Representatives met in advance of the leaders' summit. These sherpas were tasked to draft a closing statement for the summit. The debate over currency exchange rates and imbalances was reported to have been "heated".[8]

Preparations

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Main article: 2010 G20 Seoul summit preparations

The summit logo incorporated two images: the sun rising over the sea and a traditional Korean lantern (cheongsachorong).[1]

Originally, three new artificial islands built on the Han River between the Banpo and Dongjak bridges were going to be used as the main venue.[9] However, delayed construction of the islands led for the main summit venue to relocate to COEX Convention & Exhibition Center.

The Republic of Korea Armed Forces and Seoul Metropolitan Police Agency provided security for the venues.

A group of South Korean artists, consisting of Gyu-ri, Seohyun, Jun. K, Changmin, Jaekyung, Jonghyun, Sungmin, Kahi, Luna, Ji Eun, Junhyung, Gayoon, Min, G.O, Bumkey, G.NA, Son Dam-bi, Seo In-guk, IU, and Anna, credited as Group of 20 recorded a song titled "Let's Go" for the summit.

Transportation

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Most world leaders and international media arrived via Incheon International Airport and traveled to the summit venue via motorcades along the highway from the airport.

Transportation around the summit venue was upgraded with electric buses to help media and others around the city.

Attendance

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American President Obama and Turkish Prime Minister Erdoğan in conversation.

The participants of the Seoul summit included the leaders and representatives of core members of the G20, which comprises 19 countries and the European Union, which is represented by its two governing bodies, the European Council and the European Commission.[10] Representatives from other countries and regional organizations were invited to take part in the summit.

The South Korean government declined to invite the Netherlands, which had been invited to attend all four previous G20 summits. A Korean spokesman said that "a certain region had been over-represented" in the past; and for this Asian summit, Singapore was invited.[11]

This was the first summit at which there were four women among the leaders. In addition to President Cristina Fernández de Kirchner of Argentina, Prime Minister Julia Gillard of Australia, Chancellor Angela Merkel of Germany, and the president-elect of Brazil, Dilma Rousseff, accompanied her nation's delegation.[12]

This was the first G20 summit for Australia's Prime Minister Gillard, who had only been elected shortly before the Toronto summit.[13] This was also the first opportunity for Prime Minister Lee Hsien Loong of Singapore to listen and to make his voice heard at the G20 leaders' meetings.[11]

G20 members
Host nation and leader are indicated in bold text.
Member Represented by Title
Argentina Argentina Cristina Fernández de Kirchner[14] President
Australia Australia Julia Gillard[15] Prime Minister
Brazil Brazil Luiz Inácio Lula da Silva[16] President
Canada Canada Stephen Harper[17] Prime Minister
China China Hu Jintao[18] President
France France Nicolas Sarkozy[19] President
Germany Germany Angela Merkel[16] Chancellor
India India Manmohan Singh[20] Prime Minister
Indonesia Indonesia Susilo Bambang Yudhoyono[21] President
Italy Italy Silvio Berlusconi[16] Prime Minister
Japan Japan Naoto Kan[22] Prime Minister
Mexico Mexico Felipe Calderón[23] President
Russia Russia Dmitry Medvedev[24] President
Saudi Arabia Saudi Arabia Saud bin Faisal bin Abdulaziz Al Saud[25] Foreign Minister
South Africa South Africa Jacob Zuma[26] President
South Korea South Korea Lee Myung-bak[27] President
Turkey Turkey Recep Tayyip Erdoğan[16] Prime Minister
United Kingdom United Kingdom David Cameron[28] Prime Minister
United States United States Barack Obama[29] President
European Union European Commission José Manuel Barroso[30] President
European Council Herman Van Rompuy[16] President
Invited states
State[31] Represented by Title
Ethiopia Ethiopia[32] Meles Zenawi[33] Prime Minister
Malawi Malawi[32] Bingu wa Mutharika[33] President
Singapore Singapore Lee Hsien Loong[34] Prime Minister
Spain Spain José Luis Rodríguez Zapatero[16] Prime Minister
Vietnam Vietnam Nguyễn Tấn Dũng[35] Prime Minister[36]
International organisations
Organisation[31] Represented by Title
African Union Bingu wa Mutharika[37] Chairman
ASEAN Surin Pitsuwan[38] Secretary General
Nguyễn Tấn Dũng[35] Chairman
Financial Stability Forum Mario Draghi[39] Chairman
International Labour Organization Juan Somavía[38] Head
International Monetary Fund Dominique Strauss-Kahn[40] Managing Director
NEPAD Meles Zenawi[41] Chairman
OECD José Ángel Gurría[42] Secretary-General
United Nations United Nations Ban Ki-moon[43] Secretary General
World Bank Group Robert Zoellick[44] President
World Trade Organization Pascal Lamy[45] Director-General

Security

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Security for the G20 summit presented a unique array of problems. In addition to the security of the main venue, COEX, South Korea was more broadly responsible for providing a safe venue for the delegations who come to the summit. The National Police Agency led the security detail for the summit, both at the convention venue and the airport as well. Other police and security agencies involved were:

A squad of riot police in front of the Korea Press Center in downtown Seoul — November 7, 2010
Demonstrators converged on downtown Seoul in protest against the G20 leaders' summit. The labor rally took place in Seoul City Plaza near city hall — November 7, 2010

In preparation, anti-terrorism drills were held by members of the South Korean police, military, special forces and private sector as part of the 2010 Ulchi-Freedom Guardian exercises against simulated hostage situations and chemical, biological and radiological attacks as a preparation for the summit.[46]

Plans for accommodating peaceful protesters were paired with plans for mitigating disruptive demonstrations.

The G20 raised security concerns unrelated to demonstrators protesting the presence of the leaders of 20 economies in Seoul. For example, some analysts projected that anything perceived as a success for South Korea would be simultaneously construed in Pyongyang as a threat to North Korea.[47]

Despite public endorsements by attending leaders, most commentators looking back on the summit have argued that only limited progress was made, especially on the headline issue of currency war and addressing trade imbalances.[48][49][50][51][52][53][54] Leaders were generally unable to agree on key issues, with commentators such as economist Eswar Prasad noting the absence of the sense of unity that had been present at summits during the worse of the global financial crisis of 2007–2009. IMF managing director Dominique Strauss-Kahn said this particular summit was "more of a G20 debate than a G20 conclusion".[49]

Relating to the need to rebalance the world economy, agreement had been reached to work on indicative guidelines which will set suggested maximum limits for current account surpluses and deficits, though these are not due to be fleshed out until 2011. G20 leaders also agreed to endorse the Seoul Development Consensus, a set of guidelines and principles for working together with less development nations to improve economic growth and reduce poverty. In contrast to the older Washington Consensus which it supersedes, the Seoul Consensus is less free market–orientated, allowing a larger role for state intervention.[55][56]

See also

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References

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  1. ^ a b Cho Jin-seo. "Seoul unveils G20 summit's symbol," Archived March 23, 2016, at the Wayback Machine Korea Times (ROK). July 8, 2010; retrieved Nov 10, 2010.
  2. ^ Oliver, Christian. "Seoul: S Korea looks forward to its own party," Financial Times (UK). June 25, 2010.
  3. ^ Parliament (UK): Townsend, Ian. "G20 & the November 2010 Seoul summit" (SN/EP/5028) Archived November 7, 2010, at the Wayback Machine, October 19, 2010, retrieved 2011-04-07; excerpt, "Today, we designated the G-20 as the premier forum for our international economic cooperation" citing "Pittsburgh G20 Leaders’ summit communiqué," ¶50 September 29, 2009, retrieved 2011-04-07; excerpt, "Today, we designated the G-20 as the premier forum for our international economic cooperation. We have asked our representatives to report back at the next meeting with recommendations on how to maximize the effectiveness of our cooperation. We agreed to have a G-20 Summit in Canada in June 2010, and in Korea in November 2010. We expect to meet annually thereafter, and will meet in France in 2011.
  4. ^ "G-20 preparation committee adopts catchphrase 'Shared growth beyond crisis'," Archived July 22, 2011, at the Wayback Machine Yonhap News Agency. July 20, 2010; retrieved Mar 5, 2011.
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  6. ^ a b c d G20 Seoul summit, Agenda[permanent dead link‍]
  7. ^ a b G20 Seoul summit, New agenda and initiatives Archived November 15, 2010, at the Wayback Machine
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  36. ^ 2010 Chair of ASEAN
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  49. ^ a b Chris Giles, Alan Beattie and Christian Oliver in Seoul (November 12, 2010). "G20 shuns US on trade and currencies". The Financial Times. Archived from the original on November 14, 2010. Retrieved November 12, 2010.
  50. ^ Gabriel Elizondo (November 11, 2010). "Currency 'wars' dominate G20 summit". Aljazeera. Archived from the original on November 12, 2010. Retrieved November 12, 2010.
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  53. ^ Evan ramstad (November 19, 2010). "U.S. Gets Rebuffed At Divided Summit". The Wall Street Journal. Retrieved November 13, 2010.[permanent dead link‍]
  54. ^ Mohamed A. El-Erian (November 17, 2010). "Three Reasons Global Talks Hit Dead End: Mohamed A. El-Erian". Bloomberg L.P. Archived from the original on November 20, 2010. Retrieved November 19, 2010.
  55. ^ Evan ramstad (November 17, 2010). "G-20's Host Pushes Seoul Consensus". The Wall Street Journal. Archived from the original on November 15, 2010. Retrieved November 13, 2010.
  56. ^ By Christian Oliver, Chris Giles and Alan Beattie in Seoul (November 12, 2010). "Forget summit failures, look at G20 record". The Financial Times. Archived from the original on November 15, 2010. Retrieved November 17, 2010.
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