G-20's Host Pushes Seoul Consensus

SEOUL—Taking a leaf from its own path to development, South Korea used the Group of 20 summit, the largest diplomatic event in its history, to push for a reshaping of the economic relationship between advanced and developing nations.

G-20 leaders generally endorsed the approach, which organizers titled the Seoul Development Consensus. It stands in contrast to the so-called Washington Consensus, which emerged in 1989 focused on fiscal discipline, privatization and trade liberalization. South Korea envisions a larger role for government policy, especially in infrastructure spending.

On Friday, the leaders of the world's 20 richest nations endorsed a statement that said ...

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