2010

Meeting

Place

Highlight

5th East Asia Summit

Convention on
Biodiversity Conference

Hanoi
Nagoya

Adoption of Aichi Target

Aichi Target
Was adopted at the Nagoya summit of CBD in 2010. It targets to halve the rate
of biodiversity loss. Japan has created a $2 bn fund for it.

G-20 Summit, Seoul, November 2010

It was evident that with the global crisis abating, the G20 countries have
fewer incentives to work together.
Currency war was a major issue of contention: China and US were not able
to bridge their differences.
The leaders agreed to avoid a competitive devaluation of their currencies
and undertook to seek more balanced growth. However, they put off until
next year the contentious task of defining the problems that threaten
global recovery.
US proposal to fix a cap on deficits and surpluses in current accounts did
not find favour
Robert Zeolick, ahead of the summit, proposed a return to the gold
standard.
The important message is that the countries will continue to work together
but will not be constrained by any rigid time frame.
The most important agreement was G20 endorsed the measures to reform
the IMF, a move that would give the developing world a greater say in this
global body.
Seoul Development Consensus