Difference between revisions of "Stalemate"
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=2007 - 2010= | =2007 - 2010= | ||
''28-November-2010, FT headline: Dow Jones Slumps by 500 points.'' | |||
The fears of a double dip economic recession have come to reality. The US fed and European bank struggle to jump start the collapsing economic activity. Markets fear a default by Spain and Italy in near future, causing worries within the EU. Due to the economic uncertainties of the west and a dwindling consumption in the globe, IMF reduces the projected GDP growth of China and India in 2010. | |||
The 192 participating nations come together at the Cancun COP16 to negotiate climate change reductions with their own specific agenda. While as the under-developed want more money, the developing and the developed nations want a quick economic recovery and subsequent growth. OPEC block intensifies lobbying and funding to avoid an accord in the COP 16 meet. The Chinese premier again snubs the other heads of nations and misses the negotiations. | |||
The fires of Russia and flood in Pakistan are history. Lack of public awareness and primary focus on economic well being distinguishes the majority of the public voice to reduce negotiations. | |||
After 11 days of relentless fighting, no concrete outcome emerges out of the Cancun summit. An agreement is noted to indicating a postponement of any concrete action plan to the COP 17 in South Africa. | |||
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