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G20 - How They Want To Fight the Crisis

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The 2009 G20 Summit

The G20 meets in London on Thursday but judging by the statements of various leaders ahead of the meeting, the rifts among members appear too deep to be bridged by a one-day session in the UK capital.From accusations that the crisis was sparked by "white men with blue eyes" to reproaches for not spending more to fend off the crisis, it looks like the talks will be marred by discord.Developed countries differ in how they think their economies can be revived, while developing countries want an inc

The G20 meets in London on Thursday but judging by the statements of various leaders ahead of the meeting, the rifts among members appear too deep to be bridged by a one-day session in the UK capital.

From accusations that the crisis was sparked by "white men with blue eyes" to reproaches for not spending more to fend off the crisis, it looks like the talks will be marred by discord.

Developed countries differ in how they think their economies can be revived, while developing countries want an increased role in the decision-making process. Click ahead to see where each of the G20 members stand.

What Argentina wants:

Argentina, which is a big exporter of processed agricultural products, wants more IMF voting power for emerging economies, loans with fewer conditions and a longer life from the Fund and more effective oversight mechanisms.

Argentina, which is a big exporter of processed agricultural products, wants more IMF voting power for emerging economies, loans with fewer conditions and a longer life from the Fund and more effective oversight mechanisms.



What Australia wants:

Australia, whose economy is driven by commodities, thinks IMF resources should be at least doubled, and China should get a more central role and the G20 should play a more prominent role in global affairs.

Australia, whose economy is driven by commodities, thinks IMF resources should be at least doubled, and China should get a more central role and the G20 should play a more prominent role in global affairs.

What Brazil wants:

Brazil, a major transport equipment and parts exporter with an abundance of commodities, has been a vocal critic of Western bankers' role in the crisis. It seeks a big increase in IMF funds and the creation of a $100-billion credit line for international trade.

Brazil, a major transport equipment and parts exporter with an abundance of commodities, has been a vocal critic of Western bankers' role in the crisis. It seeks a big increase in IMF funds and the creation of a $100-billion credit line for international trade.

What Canada wants:

Canada, a resource-rich country that sends some 70 percent of its exports to the US, wants measures to restore global growth, a commitment against protectionism, stronger banking regulation and a boost to IMF resources.

Canada, a resource-rich country that sends some 70 percent of its exports to the US, wants measures to restore global growth, a commitment against protectionism, stronger banking regulation and a boost to IMF resources.

What China wants:

China, one of the world's biggest manufacturers and very reliant on clothing and electronics exports, wants more IMF voting rights. It has also floated the idea of a new global reserve currency, but it has drawn a cool response.

China, one of the world's biggest manufacturers and very reliant on clothing and electronics exports, wants more IMF voting rights. It has also floated the idea of a new global reserve currency, but it has drawn a cool response.

What the European Union wants:

The EU, a 27-state group, cannot agree on a common approach, with some prominent members threatening to walk out. In general, it favors more resources for the IMF and more effective financial regulation, but has resisted calls for new stimulus measures.

The EU, a 27-state group, cannot agree on a common approach, with some prominent members threatening to walk out. In general, it favors more resources for the IMF and more effective financial regulation, but has resisted calls for new stimulus measures.

What France wants:

France, home to Europe's second-largest carmaker and one of its main agricultural producers, wants tighter regulation of the financial sector, a clampdown on hedge funds and tax havens and opposes further fiscal stimulus.

France, home to Europe's second-largest carmaker and one of its main agricultural producers, wants tighter regulation of the financial sector, a clampdown on hedge funds and tax havens and opposes further fiscal stimulus.

What Germany wants:

Germany, whose auto industry is suffering along with the rest of its large export sector, is against further stimulus but wants to modify bank capital adequacy rules and tighten financial sector regulation.

Germany, whose auto industry is suffering along with the rest of its large export sector, is against further stimulus but wants to modify bank capital adequacy rules and tighten financial sector regulation.

What India wants:

India, whose rapidly-developing tech sector is taking jobs from the West, wants more lending to emerging economies, urgent IMF reforms to improve the group's representation and measures to discourage protectionism.

India, whose rapidly-developing tech sector is taking jobs from the West, wants more lending to emerging economies, urgent IMF reforms to improve the group's representation and measures to discourage protectionism.

What Indonesia wants:

Indonesia, a major oil, gas and mineral products exporter, has asked for a Global Expenditure Support Fund to help developing countries. It is also aiming for measures to make the IMF more representative of the changing world order.

Indonesia, a major oil, gas and mineral products exporter, has asked for a Global Expenditure Support Fund to help developing countries. It is also aiming for measures to make the IMF more representative of the changing world order.

What Italy wants:

Italy, best known for its tourism, agricultural and fashion industries, aims for reforms of the global financial system and cooperation on regulation between the G8, which it currently chairs, and the G20.

Italy, best known for its tourism, agricultural and fashion industries, aims for reforms of the global financial system and cooperation on regulation between the G8, which it currently chairs, and the G20.

What Japan wants:

Japan, the world's second-largest economy and one which has been struggling ever since its banking sector wilted 15 years ago,  says leaders should focus on saving the world economy rather than longer-term efforts to improve financial regulation.

Japan, the world's second-largest economy and one which has been struggling ever since its banking sector wilted 15 years ago,  says leaders should focus on saving the world economy rather than longer-term efforts to improve financial regulation.

What Mexico wants:

Mexico, a major producer of crude oil and natural gas, wants the G20 to strengthen international financial organizations, bolster support for emerging economies and coordinate fiscal measures against the global crisis.

Mexico, a major producer of crude oil and natural gas, wants the G20 to strengthen international financial organizations, bolster support for emerging economies and coordinate fiscal measures against the global crisis.

What Russia wants:

Russia, which has the world's biggest natural gas reserves and is also a major oil producer, wants reform of the IMF and the World Bank. It also wants more say—and more voting power—for emerging economies.

Russia, which has the world's biggest natural gas reserves and is also a major oil producer, wants reform of the IMF and the World Bank. It also wants more say—and more voting power—for emerging economies.

What Saudi Arabia wants:

Saudi Arabia, the world's leading crude exporter, wants to prevent the global crisis from further undermining demand for oil. It also seeks reform of the IMF and says that any increased contributions must be matched by greater influence.

Saudi Arabia, the world's leading crude exporter, wants to prevent the global crisis from further undermining demand for oil. It also seeks reform of the IMF and says that any increased contributions must be matched by greater influence.

What South Africawants:

Resources-rich South Africa, whose chief exports are corn, gold and diamonds, is asking for a stronger role in the IMF and better resources for the Fund, the World Bank and regional development banks.

Resources-rich South Africa, whose chief exports are corn, gold and diamonds, is asking for a stronger role in the IMF and better resources for the Fund, the World Bank and regional development banks.

What South Korea wants:

South Korea, which said it expects to post a trade surplus of up to $50 million this year, wants a stronger commitment to the prevention of trade barriers and agreement on how much fiscal stimulus is needed to counter recession.

South Korea, which said it expects to post a trade surplus of up to $50 million this year, wants a stronger commitment to the prevention of trade barriers and agreement on how much fiscal stimulus is needed to counter recession.

What Turkey wants:

Turkey, a candidate for European Union membership, seeks a stronger European commitment to stimulate economies and eforts to avoid protectionism. Turkey also wants rich nations to deliver on aid promises.

Turkey, a candidate for European Union membership, seeks a stronger European commitment to stimulate economies and eforts to avoid protectionism. Turkey also wants rich nations to deliver on aid promises.

What the U.K. wants:

The U.K., which has relied on its banking sector for growth for years, is urging reform of the global banking system and creation of jobs. It wants the G20 to reaffirm opposition to protectionism and clamp down on tax havens.

The U.K., which has relied on its banking sector for growth for years, is urging reform of the global banking system and creation of jobs. It wants the G20 to reaffirm opposition to protectionism and clamp down on tax havens.


What the US wants:

The US, where the financial crisis started nearly two years with the implosion of the subprime mortgage market, seeks a "robust approach" to stimulus measures, measures to deal with toxic assets and agreement on regulatory reform to prevent a repeat of the crisis.GDP source: Population sources: What they want from G20 source: Photos:

The US, where the financial crisis started nearly two years with the implosion of the subprime mortgage market, seeks a "robust approach" to stimulus measures, measures to deal with toxic assets and agreement on regulatory reform to prevent a repeat of the crisis.

GDP source: IMF

Population sources: Countries' own statistics, Eurostat

What they want from G20 source: Reuters, CNBC.com

Photos: AP

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