Compiling qemu on ubuntu 12.04

I hit a seemingly common issue running configure

ERROR: glib-2.12 required to compile QEMU

I tried the usual suspects -

~/qemu-1.7.0$ sudo apt-get install libglib2.0-dev
Reading package lists... Done
Building dependency tree    
Reading state information... Done
libglib2.0-dev is already the newest version.
0 upgraded, 0 newly installed, 0 to remove and 72 not upgraded.

to no avail...
After poking through the configure script, I suspected a pkg-config issue.
The export below resolved my issue -

export PKG_CONFIG_PATH=/usr/lib/x86_64-linux-gnu/pkgconfig