Saturday, May 14, 2005


Replace the G8?

What powers do the G8 (or Political 8) really enjoy? Very few - the summit is a discussion forum that often issues guidance to the international community on economic priorities.

"The summit members comply modestly with the decisions and consensus generated by and codified at their annual meeting. Compliance is particularly high in regard to agreements on international trade and energy, and on the part of Britain, Canada, and Germany."

Anyway, things have changed since 9/11. Security is much more of a concern. Therefore how should the G8 adjust?

A new book considers the changing political scene, and comes up with three scenarios for the next ten years:
1. Nations become fortresses. They withdraw from global agreements on economics; protect local jobs and introduce barriers to foreign investment. Internationally, they form alliances with like-minded nations; or
2. International business (based on human nature) takes the lead. There is greater division in societies, and large sections of the world are mired in poverty and violence; or
3. The world is ruled by the main political and economic players - the US and China.

These scenarios do not mention the United Nations. There may be little need for the G8 also.
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