../Morning Post
Posted September 22, 2009
____________________
Climate Change

World Bank Chief Urges G20 To Address Global Challenges.

"World Bank President Robert Zoellick urged Monday G20 leaders to set an ambitious agenda of 'responsible globalization' at this week's summit. Zoellick said the summit should include efforts to promote more balanced growth with financial stability, development and climate change, rather than the narrow focus set at the last G20 summit in London in April...." [Agence France Presse (9/21)/Factiva]

Reuters adds that "...the development bank head [said]... the rest of 2009 could exceed many economic expectations but warned of possible further economic gloom next year. 'I am more concerned about 2010. I am not forecasting a double dip, but we are not out of the woods yet,' Zoellick said, adding that it was unclear whether private demand would be strong enough to make up for fading fiscal stimulus in 2010. 'We could help provide new sources ... by ensuring access to finance for some of the well-run middle income countries that have room to borrow more,' he added...." [Reuters (9/21)/Factiva]

The FT writes that "...Zoellick also warned of rising protectionism and called for a robust G20 response. 'We have a low-grade fever of trade tensions and the temperature is starting to rise,' he said. He urged the US and China to settle the dispute over US safeguard actions against imports of Chinese tires. But he said 'the real problem is that if you are not moving forward with an offensive agenda of trade liberalization, it becomes very difficult to hold the status quo - you are constantly playing defense.'..." [Financial Times (9/20)/Factiva]

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