Ideas to Action:

Independent research for global prosperity

Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

New Chinese Regulations Reflect Growing G-20 Appetite for Anticorruption

The G-20 is not ordinarily considered a major player in the drive against corruption in international business transactions, but that may be changing.

The Toronto Summit in June 2010 established a working group “to make comprehensive recommendations on how the G-20 can take practical steps to combat corruption.” During the Seoul Summit in November, a coalition of emerging market members of the working group (including Brazil, Argentina, South Africa, and Mexico) quietly joined with the United States to urge China to adopt an anti–foreign bribery law.

Three Seoul Sleepers and a Damp Squib

Perhaps predictably, media coverage of the G-20 Seoul Summit focused on the currency wars, and assessments of impact of the meeting were decidedly mixed (though, interestingly, more negative in the United States than in the big emerging markets). But global imbalances were hardly the only item on the agenda. Three summit documents have the potential to become more important with the passage of time, especially if the development community seizes upon them as opportunities to press the big economies for pro-development policies and spreads the word.

U.S. Congress Takes Critical Step to Unlock $1 Trillion for Developing Countries Coping with Crisis

The U.S. House and Senate passed the $105.9 billion war supplemental last week, which includes $5 billion to secure $108 billion in additional lending by the International Monetary Fund (IMF). Congress’s approval for increased IMF lending supports President Obama’s G20 commitments and paves the way to unlock the $1 trillion (mostly contributions from other high-income countries) for emerging and developing countries coping with the economic crisis.