World leaders have started the two-day G20 summit in Toronto, Canada, following on from the earlier meeting of the G8 nations.
The group represents twenty of the world’s richest and emerging countries.
Already they’re nearing agreement on principles to halve their budget deficits within three years and clamp down on banks to prevent further financial crises.
Earlier on, US President Barack Obama met separately with Chinese premier, Hu Jintao.
Obama discussed the Chinese role in achieving a balanced and sustainable growth, and also welcomed the greater currency flexibility of the Yuan.
The two leaders agreed to meet formally, after Obama invited Hu for a state visit. The timing will be worked out at a later date.