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The 38th G8 summit

at Camp David


The 38th G8 summit was held in Camp David, Maryland, United States, on 18–19 May 2012 which is the annual meeting of the G8 and  gathering of eight of the world's leading economies.  This was the first meeting in the United States since 2004,  The only core leaders were invited: Britain, Canada, France, Germany, Italy, Japan, and Russia joined President Obama at Camp David for the annual G8 Summit although the Russian head of state Vladimir Putin was not able for the first time to attend  however, Dmitry Medvedev, the Prime Minister of Russia attended instead. The leaders met to address major global economic, political, and security challenges, including energy and climate change, food security and nutrition, Afghanistan’s economic transition and transitions taking place across the Middle East and North Africa in May 18 to 19, 2012.  This G8 summit concentrated on the core leaders only; no non-G8 leaders or international organizations were invited.

The leaders discussed  major global economic, political, and security challenges, including energy and climate change, food security and nutrition, Afghanistan’s economic transition and transitions taking place across the Middle East and North Africa.  Global security covers a variety of interconnected issues in the world that have an impact on survival. It ranges from the traditional or conventional modes of military power, the causes and consequences of war between states, economic strength, to ethnic, religious and ideological conflicts, trade and economic conflicts, energy supplies, science and technology, food, as well as threats to human security and the stability of states from environmental degradation including the drug traffics and preventing the terrors, infectious diseases, climate change and the activities of non-state actors.

Supporting climate changes and energy supplies, here are amazing combination of energy suppliers
that support climate changes and energy which the photos were taken in Tacoma Washington:

It is already popular in USA for using alternative energy which is Combination solar wind power is an alternative approach to producing clean, non-polluting energy from two of the most abundant renewable energy sources. This system uses a hybrid solar panel and wind turbine generator to create electricity which is then stored in batteries. : Wind turbine, Solar, and production of the energy which supports
the climate changes and energy supplies for the eco system environment.


Photos by Sandra Englund

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Here is another one great example to save energy and supporting environment, climate changes which call green wave technology in California, see via CNN, youtube:

Speaking of global economic, Since the 1930s, the global economy remains in distress, with uncertainty still looming large, according to the IMF’s Finance & Development (F&D) magazine,  Aaccording to the IMF’s Finance & Development (F&D) magazine, Five years after the first rumblings in the U.S. mortgage market presaged the greatest global financial crisis since the 1930s, the global economy remains in distress, with uncertainty still looming large,

Emerging and developing economies drive global economic growth which you can see the The financial crisis has caused the emerging and developing economies to replace advanced economies to lead global economic growth. Advanced economies accounted for only 35% of incremental global nominal GDP and 23% of incremental global GDP (PPP) while emerging and developing economies accounted for 65% of incremental global nominal GDP and 77% of incremental global GDP (PPP) from 2007 to 2011 according to International Monetary Fund.

The following tables show the individual countries are effacted Emerging and developing economies drive global economic growth

List of 20 Largest Economies by Incremental Nominal GDP and Incremental GDP (PPP) from 2007 to 2011 by the International Monetary located in Washington D.C.

IMF is one nation founding  and there are 188 nations for the members of the countries. this international Monetary Fund founded since  67 years ago,July 22, 1944,Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds on a temporary basis. Through this activity and others such as surveillance of its members' economies and policies, the IMF works to improve the economies of its member countries.  The IMF describes itself as “an organization of 188 countries (as of April 2012), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.” The organization's stated objectives are to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making financial resources available to member countries to meet balance of payments needs.

 

Here are more detail of serious G8 summit with the following links:

Read the G8 Declaration
 

Created by catch4all.com, Sandra Englund Photo credit: White House

Music:Beethovan Symphony 8 F Major by Philhamoney

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On May 19th, 2012, President Obama’s closed the G8 Summit with the closing Remarks.

 

Statement by President Obama at Closing of G8 Summit

Aspen Cabin
Camp David, Maryland

For Immediate Release

 

May 19, 2012

6:04 P.M. EDT

Good afternoon, everybody. It has been a great pleasure to host the leaders of some of the world’s largest economies here at Camp David. I think the surroundings gave us an opportunity to hold some intimate discussions and make some genuine progress.

For the past three years, our nations have worked together and with others first to rescue a global economy from freefall, then to wrestle it back to a path of recovery and growth. Our progress has been tested at times by shocks like the disaster in Japan, for example. Today it's threatened once again by the serious situation in the eurozone.

As all the leaders here today agreed, growth and jobs must be our top priority. A stable, growing European economy is in everybody’s best interests -- including America’s. Europe is our largest economic partner. Put simply, if a company is forced to cut back in Paris or Madrid, that might mean less business for manufacturers in Pittsburgh or Milwaukee. And that might mean a tougher time for families and communities that depend on that business.

And that’s why, even as we’ve confronted our own economic challenges over the past few years, we’ve collaborated closely with our European allies and partners as they’ve confronted theirs. And today, we discussed ways they can promote growth and job creation right now, while still carrying out reforms necessary to stabilize and strengthen their economies for the future.

We know it is possible -- in part, based on our own experience here. In my earliest days in office, we took decisive steps to confront our own financial crisis -- from making banks submit to stress tests to rebuilding their capital -- and we put in place some of the strongest financial reforms since the Great Depression.

At the same time, we worked to get our own fiscal house in order in a responsible way. And through it all, even as we worked to stabilize the financial sector and bring down our deficits and debt over the longer term, we stayed focused on growing the economy and creating jobs in the immediate term.

Of course, we still have a lot of work to do. Too many of our people are still looking for jobs that pay the bills. Our deficits are still too high. But after shrinking by nearly 9 percent the quarter before I took office, America's economy has now grown for almost three consecutive years. After losing hundreds of thousands of jobs a month, our businesses have created more than 4 million jobs over the past 26 months. Exports have surged and manufacturers are investing in America again.

And this economic growth then gives us more room to take a balanced approach to reducing our deficit and debt, while preserving our investments in the drivers of growth and job creation over the long term -- education, innovation, and infrastructure for the 21st century.

Europe’s situation, of course, is more complicated. They’ve got a political and economic crisis facing Greece, slow growth and very high unemployment in several countries. And what’s more, when they want to decide on a way to move forward, there are 17 countries in the eurozone that need to come to an agreement. We recognize that and we respect that.

But the direction the debate has taken recently should give us confidence. Europe has taken significant steps to manage the crisis. Individual countries and the European Union as a whole have engaged in significant reforms that will increase the prospects of long-term growth. And there’s now an emerging consensus that more must be done to promote growth and job creation right now in the context of these fiscal and structural reforms. That consensus for progress was strengthened here at Camp David.

Today we agreed that we must take steps to boost confidence and to promote growth and demand while getting our fiscal houses in order. We agreed upon the importance of a strong and cohesive eurozone, and affirmed our interest in Greece staying in the eurozone while respecting its commitments. Of course, we also recognized the painful sacrifices that the Greek people are making at this difficult time, and I know that my European colleagues will carry forward these discussions as they prepare for meetings next week.

The leaders here understand the stakes. They know the magnitude of the choices they have to make and the enormous political, economic, and social costs if they don’t. In addition to our G8 meeting, it was -- I was able to talk to them individually over the last two days and I reaffirmed that Europe has the capacity to meet its challenges, and America is not only confident in their ability to meet their challenges, but we are supportive of their efforts.

This morning, I updated you on the progress we made last night in our discussion of security issues. And today, following our discussion of the economy, we also made progress on a range of other important challenges. We discussed the importance of pursuing an all-of-the-above strategy for energy security in a safe and sustainable way. Leaders agreed to join a new U.S.-led coalition to address climate change, in part by reducing short-lived pollutants. And in the face of increasing disruptions in the supply of oil, we agreed that we must closely monitor global energy markets. Together, we stand ready to call upon the International Energy Agency to take action to ensure that the market remains fully and timely supplied.

We also announced a new alliance on food security with African leaders and the private sector as part of an effort to lift 50 million people out of poverty over the next decade. We discussed our support for a sustainable Afghan economy as we wind down the war, and we reaffirmed our support for the democratic transitions underway in the Middle East and North Africa.

So I’m very pleased that we were able to make some important progress here at Camp David. And we’re going to keep at it. Tomorrow we begin our NATO summit in my hometown of Chicago where we’ll discuss our plans to responsibly end the war in Afghanistan. Next week, European leaders will gather to discuss their next steps on the eurozone. Next month, we’ll all have the chance to continue this collaboration at the G20 in Mexico. And I look forward to building on this progress in promoting economic recovery in the weeks and months to come.

Thank you very much, everybody. I hope you've enjoyed the great views and the great weather.

Sources: White House, CNN, wikipedia, IMF, and Youtube.

Catch4all.com, Sandra Englund During the Vegas trip in Nevada May 30, 2012.

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