Confronting the G-20…A Discussion Paper for Strategic Planning by Social Movements and Allied NGO’s

Original Publication Date: 
24 June, 2010
AttachmentSize
Confronting the G-20 --- a Strategy Tool.pdf213.34 KB

By now, it should be clear that the G-8 proved to be incapable of managing the current global crisis. The compounding economic, financial and climate crisis that plagues the capitalist system today has spiraled out of control to the point where the G-8 had both a ‘capacity’ problem and a ‘legitimacy’ problem in coming up with viable solutions. In order to offset the potential collapse of the global system, the G-8 had little choice but to expand into the G-20.

Without consulting the other 173 member countries of the United Nations, the Pittsburgh Communiqué in June 2009 boldly declared the G-20 as the premier forum for managing the global economy. [art. 50]. At the time of the Pittsburgh summit, the transition from the G-8 to the G-20 was only in its early stages and the division of labour between the two was unclear. However, the Financial Times reported from the Pittsburgh summit that when the G-8 meets in Huntsville in June 2010, it will “deal primarily with international relations and foreign policy” issues including security issues such as nuclear arms reductions and the threat of terrorism.

For full text, see pdf.