G-20 ..new World Order

[Christina]

Gordon Brown, UK prime minister, host of the summit, said the meeting marked the emergence of a “new world order”, as he unveiled what leaders claimed was a $1,100bn package of measures to tackle the global downturn, including support for lower income countries and a $250bn plan to boost the international money supply.Close inspection showed that some of the $1,100bn pledged included reannouncements and half-done deals. However, even before the summit ended, equity markets rose sharply around the world amid hopes that the global economy was stabilising. In London, the FTSE 100 rose 4.3 per cent to pass 4,000 points for the first time in six weeks, while in New York, the S&P 500 closed 2.9 per cent higher. Early Asian trade on Friday showed investors extending the strong gains made on Thursday.The benchmark Nikkei was up 0.6 per cent after hitting a three-month intraday high. The leaders papered over divisions between the US and Europe about whether the world could afford a new fiscal stimulus. President Barack Obama described the summit’s measures as “bolder and more rapid than any international response that we’ve seen to a financial crisis in memory” and predicted that they would mark “a turning point in our pursuit of global economic recovery”.More (see Pic of smiling Obama ) and NWO leadershttp://www.ft.com/cms/s/0/082652de-1fb0-11...144feabdc0.html