Major countries' positions for G20 summit in Toronto
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Brazil: Maintain growth stimuli
Brazil will propose at the G20 Summit that countries should maintain the growth stimuli while speeding up the establishment of mechanisms to regulate financial markets, sources from the Brazilian Foreign Ministry told Xinhua recently.
Brazil believes that the World Bank reform concluded in April was "satisfactory" and hopes that the institution should continue reforms in the coming years to provide emerging countries greater parity in voting power.
Brazil believes that the G20 gathering should play a more important role in global affairs and that topics should extend from finance and economy to development, energy, oil policies and others, the sources said.
Russia: Establish a G20 mechanism
Russia is expected to propose the establishment of the G20 mechanism, reform of the international audit system and the establishment of a world environment protection fund.
With regard to preventing future financial risks, Russia is expected to propose two plans at the summit: impose a bank tax and set up a special fund; banks receive government funding in time of difficulty but must pay back the funding as well as fines.
Japan: Play active role in global issues
The G20 summit has now become a forum for developed and developing countries to discuss and jointly address global issues and Japan looks forward to playing an active role in this regard, Japanese officials said recently.
At the Toronto summit, the G20 leaders should make clear their resolve to achieve an agreement in the Doha talks as early as possible in an effort to shore up the global economic recovery and resist protectionism, the officials said.
Japan looks forward to some agreements on global issues from the summit and wishes to see more cooperation between developed and developing countries in the future in tackling global economic and financial issues, the officials said.
South Africa: Benefit from international trade
The South African government is expected to declare its intention to strengthen trade with other countries to benefit its economy at the summit. The country will call for setting up a new global economic and trade order in which emerging countries will be given more privileges and rights.
South African economist Martin Davis recently urged China, South Africa, Brazil and other emerging countries to join hands in promoting the establishment of a new international trade and economic order, which is more balanced, fair, efficient and conducive to the comprehensive recovery of world economy.
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