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Seoul Gears Up to Welcome G-20 Ministers

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

A big hello to our viewers across China. I'm Saijal Patel from CNBC and you're watching “Asia Market Daily”.

With the G20 Seoul Summit about to get underway in less than 12-hours, tensions between participating nations are red hot.

China has kept up its criticism of U.S. monetary policy.

Deputy governor of the People's Bank of China warned the Fed's spending spree could destabilize the global economy and inflate asset bubbles.

While Brazil and Germany have also lashed out at America's decision to inject another 600 billion dollars into the economy.

Germany's finance minister even went as far as to say, quote, "U.S. policy is clueless".

Speaking in Jakarta, Barack Obama acknowledged G20 leaders "still have a lot of work to do" to ensure balanced global growth.

The U.S. President also toned down comments about the Yuan, saying Washington isn't interested in containing China.

(SOT) Barack Obama U.S. President:

"We want China to succeed and prosper, it is good for the United States if China continues on the path of development. We are not interested in containing that process. We want China to achieve its development goals."

Meantime, the Korea International Trade Association reports the G20 Summit will result in an economic benefit of more than 450 trillion won.

With so much at stake, South Korea is prepping in full-throttle, to get the biggest global event of the century right.

SBS-CNBC's Rhie-Young Lim has this special report.

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This is a dream come true moment for South Korea - the biggest international event in the nation's contemporary history, dwarfing both the 1988 Olympics and 2002 World Cup in both magnitude and style.

And the South Korean government is pulling out all stops to mark itself as a true leader on the world map.

To add color, the G20 committee has set up booths where citizens can send messages to the 20 leaders.

(SOT) South Korean Student:

"Hello President Lula of Brazil. Congratulations on hosting the next World Cup and the Olympics!"

And in an effort to showcase the nation's IT supremacy, hotels are equipped with IP TVs where channels from the group's 20 countries are showcased. Plus, tablet PCs that haven't hit the shelves yet are set to be distributed to participants, providing the latest updates on the summit while on the go. 3D TVs will also be featured throughout the city.

(SOT) Joanne, U.S. Tourist:

"This is great to be able to have it right here. To be able to see the news, and see what's going on, so I think it's a wonderful thing. I think they're very lucky."

And it's not just the tech space but the culinary world as well that the country wants to use to charm foreigners.

Waitresses are getting trained on just how to pour wine and keep tables spotless.

(SOT) Nick Puline, Hotel Chef:

"This is going to be an amazing opportunity for us to showcase to the world what Korea has to offer."

In downtown Seoul, Cheonggye Stream will be lit up by some 27,000 lanterns.

The highlight being: the so-called G20 lucky charm lights. But there are escalating concerns of protests as labor campaigners and other activists chanted slogans and songs at Seoul Plaza outside the city hall over the weekend. And security is on high alert.

(SOT) Lee Myung-ba, President of South Korea:

"No matter how successful the outcome of the event, the smallest mishap could disrupt the entire summit"

Nearly 6,000 police forces are being deployed near City Hall and the venue of the event, COEX. Airport security is at its highest level. And all post going to addresses near COEX are all being screened by bomb detectors. With 6000 volunteers filling up the streets and celebrities doing their part to sound the G20 Seoul Summit horn, South Koreans are hoping the historic event will mark yet another chapter in the country's growing prominence. SBS CNBC Rhie-Young Lim.

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That's today's “Asia Market Daily”, I'm Saijal Patel from CNBC, have a great night.

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