Wednesday, August 05, 2009

Global Perspectives - Whither G8 and G5?

The July issue of Global Perspectives sums up the results of the G8 summit in L'Aquila and looks at the future of the global governance summit architecture.

According to some authors the G8 has still a potential as a political and security forum. Nonetheless it should seek to reform the international organizations to bring them in-line with the changed global power balance. According to the German Chancellor Merkel, quoted in a contribution, the G8 should be a body for discussion, consensus building and statements while the new G20 format should make decisions.

The Joint Political Declaration of the G8 stated that the Heiligendamm Process which aimed for structured dialogue between the G8 and the G5 (Brazil, South Africa, China, India, Mexico) should be re-phrased Heiligendamm-L'Aquila Process (HAP). It should continue substantive dialogue among the major economies and provide careful reflections on long-term questions regarding the G8-G20 constellation.

Possible themes for the HAP agenda could be freedom of investment to mutual benefit; the role of innovation and technology in the process of sustainable and socio-economic development; a strategic approach to development and its social dimension; assistance to vulnerable states; food security and reform of relevant organizations; and energy.

Also in this issue an opinion article by Thalif Deen who attacks the hypocrisy of the Western nations who compare their financial efforts to fight the global financial crisis with their aid commitments in order to reach the MDG targets.

Global Perspectives is a bi-lingual (English/German) joint production by IPS Inter Press Service Europe and the Global Cooperation Council, published by Globalom Media. The monthly editions on various themes of international cooperation and development are downloadable for free.

See also the Euforic newsfeeds on IPS Europe and global governance

by Martin Behrens