G20 faced “more work” on imbalances, says British PM

2010-11-11 09:21

Seoul, South Korea – British Prime Minister David Cameron accepted today that the G20 needed to do “a lot more work” to reach agreement on global economic imbalances.

But he stressed the importance of breaking down what he called “a wall of money in the East (and) a wall of debt in the West”, as well as “stopping protectionism in its tracks”.

The Group of 20 summit of leaders of emerging and advanced economies gets under way today and will be dominated by disagreements on trade imbalances between the United States on one side and others such as China and Germany.

On efforts to get a deal over the issue, Cameron told the BBC: “Whether we’ll go the whole way, which I hope we will, to have a better approach to dealing with this imbalance – that’s the big test, I accept, and there’s still a lot more work to be done there.”

Cameron also emphasised the importance of fighting protectionism, saying the G20 was about stopping any restriction to trade “in its tracks”.

The British premier held bilateral meetings with South Korean President Lee Myung-Bak and Russian President Dmitry Medvedev today, as well as attending Remembrance Day events linked to the Korean War.

He notably announced that he was accepting Medvedev’s invitation to make his first visit as prime minister to Russia next year, after years of frosty relations between London and Moscow.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.