emerging economies

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Group of 8 Cedes Role in Economy to Group of 20

Move to broaden council adds input from likes of China, India

(Newser) - An administration official says the Group of 20 nations will become a permanent council on global economic cooperation—broadening the number of countries involved in the role currently filled by the Group of Eight major industrial nations. The G-8 would continue to meet on matters of common importance such as... More »

Chile's Thrift Pays Off as Downturn Bites Elsewhere

Finance minister hailed for dodging commodity bubble

(Newser) - Chile's thrifty finance minister is starting to look like a prophet as spendthrift, "grasshopper" economies founder around him, the Wall Street Journal reports. Andres Velasco's tight grip on the country's copper revenue during the commodities boom made him and his party deeply unpopular at the time, but the country... More »

G-20 Vows to Spur Lending

(Newser) - The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and... More »

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