G 20 Nations Spend 88 Billion A Year Propping Up The Fossil Fuel
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G 20 Nations Spend 88 Billion A Year Propping Up The Fossil Fuel

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Though the G-20's primary focus is global economic governance, the themes of its summits vary from year to year. For example, the theme of the ... Read more 2006 G-20 meeting was "Building and Sustaining Prosperity". The issues discussed included domestic reforms to achieve "sustained growth", global energy and resource commodity markets, reform of the World Bank and IMF, and the impact of demographic changes due to an aging world population. Trevor A. Manuel, the South African Minister of Finance, was the chairperson of the G-20 when South Africa hosted the Secretariat in 2007. Guido Mantega, Brazil's Minister of Finance, was the chairperson of the G-20 in 2008; Brazil proposed dialogue on competition in financial markets, clean energy and economic development and fiscal elements of growth and development. In a statement following a meeting of G7 finance ministers on 11 October 2008, US President George W. Bush stated that the next meeting of the G-20 would be important in finding solutions to the burgeoning economic crisis of 2008. An initiative by French President Nicolas Sarkozy and British Prime Minister Gordon Brown led to a special meeting of the G-20, a G-20 Leaders Summit on Financial Markets and the World Economy, on 15 November 2008. Spain and the Netherlands were included in the summit by French invitation.

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