The White House would go in an overdrive to project President Obama’s first ever international summit as a roaring success before there is a drip drip drip of a dud G-20 submit just concluded. This is so typical of a new administration that lacks a world-wide-vision. World’s 20 leading economies would meet in London on April 2, 2009 to discuss the new economic order. Out of these 20 countries represented in the summit, only 7 would talk and show their displeasure with the United States of America. These seven countries are China, France, Germany, Great Britain, Japan, Russia and the United States. The remaining 13 would just watch the 7 talk and sit on their hands. These 13 emerging economies are also angry but lack the courage to confront America and speak their minds. This is the reason these summits fail.
These 13 remaining countries account for atleast 30% of the world gross product but have very little say at this point. These are Argentina, Australia, Brazil, Canada, India, Indonesia, Italy, Mexico, Saudi Arabia, South Africa, South Korea, Turkey and the European Union. When push comes to shove only Australia, Canada, Japan and the United Kingdom would stand together with the United States of America even if they profoundly disagree with America. That is why they are called the poodles of America. If anything meaningful is to happen in such summits, these poodles would have to stop sitting in America’s lap and learn to speak their mind. British Prime Minister Gordon Brown tried to chastise the US before the start of the summit, he was mildly rebuked by President Barack Obama. The rest kept their mouths shut!
Michael Elliott of TIME describes the summit as follows, “The G-20 is an informal body that groups together not just the leading advanced industrial economies, which have their own club in the G-8, but also “emerging market” nations such as India and China, together with middle-income economies such as South Korea and Mexico. Together, the 19 nations (plus the European Union, which explains the 20 – though the World Bank and IMF are also members of the G-20, just to confuse things) account for about 90% of world GDP, 80% of world trade and two-thirds of the world’s population.” What Michael Elliot forgot to mention is that by 2040, China might emerge as the largest economy in the world, followed by the United States and India. Michael also forgot to seriously contemplate that by the middle of this century Brazil, China and India might emerge as the most innovative and creative countries in the world!
President Obama is an absolute star of this G-20 summit, not only because he is the first black president of the United States but also because he is very young and inexperienced in world affairs. Nothing is known about his positions on important global issues and therefore there is a certain amount of apprehension about him. Obama should know that the world by and large disagrees with America’s position on the stimulus size and the kind of regulatory framework that the US proposes. Not only does the world blame the United States for the current economic crisis but also its persistence of the great “American Exceptionalism” that it perpetuates. This is a whole new world and the emerging economies are not willing to let America dictate to them how to conduct their affairs. Everyone in the world believes that they have as much God given right and the potential to work hard and compete in the global marketplace. They do not subscribe to the idea of “American Exceptionalism”!
Excerpt from Miliband on the London Summit
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