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Ear to the Ground

G-20 Muscles G-7 Aside

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Posted on Sep 25, 2009
g20
EPA / Win McNamee

President Obama and Michelle Obama with the Indian prime minister, Manmohan Singh, and his wife, Gursharan, at the G-20 summit in Pittsburgh.

It looks like the G-20 is set to permanently replace the G-7 as the world’s dominant economic forum, an indirect admission that there was something unfair about the world’s seven wealthiest countries deciding economic policy for the entire globe. Now, the world’s 20 wealthiest countries will decide global economic policy, a move that includes more (wealthy) voices from the global south, but still fails to address questions about why so few countries should decide the economic fate of so many. —JCL.

The BBC:

G20 leaders will today agree plans to reshape the world economy and give more say to developing nations such as China, India and Brazil when they conclude their summit in Pittsburgh.

The reforms will secure a seat at the top table of global economic policy for emerging nations, with world leaders agreeing that the G20 should become a board of directors on global economic co-operation, shifting the decades-old global balance of power away from Europe.

The G20 group, which includes Argentina, Indonesia, Saudi Arabia and South Africa, will replace the G7, which for more than three decades has dominated the world financial stage. The deal was thrashed out by Barack Obama, who is hosting his first major summit as US president.

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By stcfarms, September 28, 2009 at 10:10 pm Link to this comment

There is a chance to prevent the climatic disaster and the authorities would
just get in the way. Government screws up everything that it touches, why
would we trust the fate of mankind to a collection of greedy, lazy, dull witted
politicians? If you want to reverse global warming you will not be able to count
on government, corporations or any of the other bottom feeding scumbags
that only tell you what you want to hear.

There are people not associated with the afore mentioned scumbags that are
doing things to reverse climate change. These people need the help of their
fellow humans to get the job done. Those people that just sit back and ask
why nobody is doing anything about the problem, ARE the problem.

The old saying “If you want something done right, do it yourself” is true. Read
about Lysander Spooner or any of the other people that took matters into their
own hands when authority figures could not do the job. It is not likely that
people who deny the reality climate change will change their position, so why
bother with them?

If you want change then make it happen because what the government did for
New Orleans after Katrina they plan to do for the planet. The meek will not
inherit the earth, they will destroy it. 

By Woody, September 25 at 3:02 pm #
(Unregistered commenter)

I think there is just about NO FUCKING CHANCE of preventing climate
catastrophe without recourse to some sort of global ‘authority.’

Report this

By Rodger Lemonde, September 26, 2009 at 8:41 am Link to this comment

Meditation for the day:
In this country we rail and complain about the amassed
wealth of the top 1% and the injustice of the power
they wield to protect and increase their wealth. Most
of the rest of the world feels that way about us. To a
man with a goat cart the relative prestige of a 12 year
old Ford and a new BMW is resented equally. We have the
one planet between the lot of us and we don’t share it
fairly. What could go wrong with this picture?

Report this

By Woody, September 25, 2009 at 12:02 pm Link to this comment
(Unregistered commenter)

I think there is just about NO FUCKING CHANCE of preventing climate catastrophe without recourse to some sort of global ‘authority.’

And I think the chance of agreeing on ANY global “authority” is just about NIL.

I therefore think the chances of averting global climatic catastrophe is just about NIL, too.

So teach your grandkids to grow gills. It’s the only solution…

Report this

By Folktruther, September 25, 2009 at 11:47 am Link to this comment

An historical change form G-7.  Part of the West being muscled asside historically as China and other emerging economies gain increasing world power.  Although still highly discriminatory, it appears that it is easier to extend homeland power than to extend the class power of the world’s people.

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By Niv, September 25, 2009 at 10:28 am Link to this comment
(Unregistered commenter)

Your facts are slightly off.  The G-20 aren’t the wealthiest 20 countries, they are 20 countries chosen from the wealthiest 31 economies with an aim to increase economic and regional diversity.  Combined, they represent 85-90% of world GDP and about 2/3 of the world’s population.  Not bad, if you ask me.

Report this

By P. T., September 25, 2009 at 10:19 am Link to this comment

The G-7 or the G-20 do not decide anything.  They meet and then issue some vague statement that no one objects to, and go home.

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