Author: Il Sakong, Chairman of the Presidential Committee for the G20 Summit

The global community quickly responded to the worst global financial and economic crisis since the Great Depression through unprecedentedly strong, concerted policy actions primarily led by the G20. Thanks to these efforts, the global economy was able to avert another Great Depression, although it could not avoid a Great Recession.

Since their first gathering in Washington DC in November 2008, the G20 leaders have met four times – Washington DC, London, Pittsburgh and Toronto – to combat the current global crisis. In the process, the G20 has proved its effectiveness by delivering outcomes which are deliverable and producing concrete implementable measures. Read more…