Did the G20 summit achieve anything in particular? Well we shall look into some of the facts. There were all the bigwigs of the world, even Gordon Brown and Barrack Obama. All important peoples at one place but all in one day, we can only imagine what can happen.
There is a copy of this summit that describes what options and decisions can be taken for world economic reform. There were some big words used in G20 meeting. Like “ We believe that the only sure foundation for sustainable globalization and rising prosperity for all is an open world economy based on market principles, effective regulation, and strong global institutions.”. How do we interpret this??
Globalization is a term used in this scenario. Globalization to the world leaders is using a pool of cheap labor to get optimum result in paying lower wages and maximizing profit by cutting cost on paying for production and wages.