G8 Summit

Discussion in 'International Politics' started by Payeng, Jul 10, 2009.

  1. Payeng

    Payeng Daku Mongol Singh

    Joined:
    Mar 7, 2009
    Messages:
    2,521
    Likes Received:
    767
    Location:
    Neistan
    G8 leaders have 5-course meal before hunger talks
     
  2.  
  3. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    21
    Thanks for highlighting this...

    This is the lowest form of gutter press reporting I've seen in quite a long time...

    The newspapers possibly have nothing else to print and so they resort to this ghastly kind of journalism... Given that this comes from Iran I'm not very surprised...

    I guess he's basically trying to imply that since a lot of the world's population is going hungry, the leaders should also starve to express solidarity with them...

    With this I'd like to give a few tips to world leaders on their to-do list before expressing sympathy with somebody else -

    a) Before expressing sympathy with the hungry, you are to go hungry yourself
    b) Before expressing sympathy with the rape victims, you are supposed to get molested
    c) Before expressing sympathy with murder victims, you are supposed to get shot and killed
    d) Before expressing sympathy with bomb blast victims, you are to have a diwali firecracker explode under your arse
    e) Before expressing sympathy with arson victims, you are supposed to burn down your own house
    f) Before expressing sympathy with the diseased, you are supposed to get afflicted with severe Rabies :D:D:D:D:D

    Where does this stop???
     
  4. Payeng

    Payeng Daku Mongol Singh

    Joined:
    Mar 7, 2009
    Messages:
    2,521
    Likes Received:
    767
    Location:
    Neistan
    Aah yes, a lots of masala have been added to the article may be its a way to attract the attention of the progressive economies negligence towards the underdeveloped nations and their exploitative policies.
     
  5. EnlightenedMonk

    EnlightenedMonk Member of The Month JULY 2009 Senior Member

    Joined:
    Mar 7, 2009
    Messages:
    3,831
    Likes Received:
    21
    I agree that the developed countries and the middle east nations have not done their fair share, but that doesn't mean you expect their leaders to go hungry in your support !!!

    We need them to be in a clear and unbiased mind when they deliberate on such issues, which means they need a very nutritious meal in order to think straight :D:D:D:D
     
  6. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,269
    Likes Received:
    11,228
    Location:
    BANGalore
    G8: Obama walks past Berlusconi, takes a swipe by praise

    G8: Obama walks past Berlusconi, takes a swipe by praise - Europe - World - The Times of India
     
  7. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,269
    Likes Received:
    11,228
    Location:
    BANGalore
    G8 climate talks divide rich and poor countries

    G8 climate talks divide rich and poor countries - Europe - World - The Times of India
     
  8. Daredevil

    Daredevil On Vacation! Administrator

    Joined:
    Apr 5, 2009
    Messages:
    11,613
    Likes Received:
    5,669
    G8 is dead, long live G14

    G8 is dead, long live G14

    Diwakar, TNN 11 July 2009, 03:06am IST

    L'AQUILA (Italy): The G8 summit wound up here on Friday with a wry acknowledgement of its growing irrelevance as the world's premier power bloc. Phoenix-like, the G14 is rising from its ashes, a much more inclusive body, with developed and developing countries on an equal footing.

    The intimation of G8's impending demise came from the host of the summit, Italian President Silvio Berlusconi. ``We saw that G8 is no longer a suitable format to show a global economic way of doing. Instead, a consolidated G14 representing 80% of the world economy could help create a real dialogue. We want to see if the G14 is the best solution for debates which will bring to us unique results.''

    Berlusconi was merely echoing the creeping realisation among the G8 countries that the steady decline of the developed nations, coupled with the rapid rise of developing countries like India and China, had rendered the rich club irrelevant.

    The deliberations of the G8 and G5 saw even French President Nicholas Sarkozy making a strong case for the G14 to deal with issues of global governance after President Lula of Brazil spoke about the idea of a new group.

    According to foreign secretary Shiv Shankar Menon, ``The theme ran through the meeting in the morning'' on Thursday and ``there was considerable discussion on this and the need to structure it also at lunch''.

    Menon said that the end result of the discussion was that a forum was needed to discuss political issues and to play the role that the G20 had come to play on economic issues.

    Menon emphasized that there was no conclusion, but many seemed to feel it was a matter of time before the G8 was replaced by a G14 comprising India, the US, China, Russia, Japan, France, Germany, Brazil, South Africa, Mexico, Canada, the UK, Italy and one more country, possibly Egypt.

    Italian newspapers headlined their report on Berlusconi's remarks thus: `The G8 is over, now we need a G14'.

    It's been a while since rapid changes in the global balance of economic power have turned the G8--which started as a fireside chat among seven industrialised countries (Russia came in after the end of the Cold War)--into an anachronism.

    Recognising that their diminution in the global power stakes made their swagger on the global stage seem unreal, the rich countries were forced to reach out to India, China and other developing countries five years ago.

    The grudging effort termed ``outreach'' to make the group more representative was half-hearted, with the invitees being denied voting rights--their contributions were limited to endorsing the professed pious intentions of the developed world towards the rest of the world and to turning up for the photo-ops. In fact, the G8 declarations were published even before the outreach countries had a chance to meet.

    It was two years ago at the G8 Summit at Heiligendamm in Germany that Prime Minister Manmohan Singh told the developed countries that India wished to participate in the get-togethers of the rich as a partner rather than a petitioner.

    Singh's protest against the condescending ways of the outreach process of the G8 countries was echoed by China and Brazil. The resistance of the rich was further weakened by the economic crisis, which originated in the US, not in south-east Asia. And so it was on Thursday that the G8 and G5 countries jointly prepared the declaration `Promoting the Global Agenda' signed by leaders of 14 countries which marked the first time that the rich and developing countries had jointly issued a declaration at a G8 summit.

    The decaration also signals an attempt to institutionalise the consultations of what is being called the Heiligendamm-L'Aquila process. The declaration issued on Thursday said, ``In 2007 in Heiligendamm, our 13 countries took the initiative to bring an equal and enduring partnership on key issues on the global agenda. We have carried forward our overall dialogue in an open, transparent and constructive manner and have built common understanding and trust. This dialogue adds value in the search for shared solutions and complements formal negotiations in multilateral institutions. We will cooperate in a stable and structured manner with a view to reaching a common understanding on key issues to advance the global agenda.''

    It also reflected the changed equations, laying stress on equal partnership while expressing the decision to continue that partnership. ``We have decided to continue our partnership over the two years on an equal footing.''

    The declaration also made, as foreign secretary Menon put it, the ``most unequivocal ever'' endorsement of the demand by India and other developing countries to reform international organisations, including the UN, to reflect contemporary reality and challenges, thus ``enhancing their relevance, legitimacy and efficiency''.

    The desire to provide an institutional framework for the G8-G5 framework also came out clearly through the statement--``We have decided to continue our partnership over the next two years on an equal footing''.
     
  9. Daredevil

    Daredevil On Vacation! Administrator

    Joined:
    Apr 5, 2009
    Messages:
    11,613
    Likes Received:
    5,669
    G-8’s Dominance Faces Challenge From China, India

    G-8’s Dominance Faces Challenge From China, India

    By James G. Neuger


    July 10 (Bloomberg) -- Leaders of developing countries confronted advanced nations with a demand for a greater role in the management of the global economy, signaling the drift in power away from the financially distressed West.

    Five countries with almost half the world’s population -- China, India, Brazil, Mexico and South Africa -- challenged the hegemony of the U.S. dollar, balked at the industrial world’s strategy for fighting climate change and sought more clout in global markets and institutions.

    The encounter in L’Aquila, Italy at the annual Group of Eight summit dramatized the ascendance of emerging nations, led by China, as the worst economic calamity since World War II batters the U.S. and its European allies.

    “We have to update and refresh and renew the international institutions that were set up in a different time and place,” President Barack Obama said after the meeting of world leaders ended today. “For us to think we can somehow deal with some of these global challenges in the absence of major powers like China, India and Brazil seems to me wrongheaded.”

    Leaders of the G-5, which represents 3 billion people with gross domestic product of $7 trillion, appeared as a united front for a fifth time at the summit of the G-8, the advanced world’s forum founded in 1975.

    “What relevance does the G-8 have to set the agenda on anything for the world anymore?” Goldman Sachs Group Inc.’s London-based chief economist Jim O’Neill said in a Bloomberg Television interview today.

    Climate Clash

    The eight -- the U.S., Japan, Germany, Britain, France, Italy and Canada, along with Russia, a member since 1998 -- unite 880 million people with combined GDP of $32 trillion.

    The three-day summit ended with a pledge to spend $20 billion over three years to increase food production in the developing world, with the goal of cutting the number of malnourished people from about 1 billion.

    The G-5 took aim at the advanced economies’ call for a 50 percent cut in greenhouse-gas emissions by 2050, saying the policy would suppress the economic growth needed to lift millions out of poverty. No target can be set until world climate talks wrap up in December, they said, insisting on money and technology to help clean up the atmosphere.

    Economic Morass

    The contrast was highlighted July 7 when the International Monetary Fund said developing countries are leading the way out of the economic morass spawned by the industrial world.

    Emerging economies will expand 4.7 percent next year, the IMF said, up from an April prediction of 4 percent. The Washington-based lender forecast growth of 0.6 percent in the advanced economies, up from expectations of stagnation.

    China is “better situated to deal with this crisis,” billionaire investor George Soros said in a Bloomberg Radio interview July 7. “The Chinese in my opinion are going to gain in power and influence in a way that people currently don’t recognize.”

    In a statement in L’Aquila, the G-5 warned the industrial world against backsliding on aid commitments and sought “a new global governance,” including better representation in the IMF and United Nations.

    After parallel summits July 8 in a region rebuilding from an earthquake in April, the G-8 and G-5 met yesterday to work out a statement to at least paper over the diverging worldviews.

    Dollar Dispute

    Central to their dispute is the status of the dollar, its role as the world’s dominant reserve currency under threat from the $2.3 trillion in debt run up by the U.S. since the start of 2008 to stem the financial crisis.

    The G-5 -- mainly China -- held around $1 trillion in U.S. Treasury debt in April, giving them leverage over decisions made in Washington.

    Chinese State Councilor Dai Bingguo, who filled in for President Hu Jintao, endorsed the idea of a “diversified and rational international reserve currency regime,” according to Foreign Ministry spokesman Ma Zhaoxu.

    The call got little traction inside the meeting, with German Chancellor Angela Merkel saying it was “of no practical relevance.” Brazilian and Russian officials said it may come up again at the wider G-20 forum in Pittsburgh in September.

    “There has been concern on the dollar, but there hasn’t been a coherent strategy put forth,” said Brian Kim, a currency strategist at UBS AG in Stamford, Connecticut. “We don’t think that’s going to be an issue weighing on the dollar for the balance of this year. It’s a much longer term issue.”

    For Russian President Dmitry Medvedev, the monetary future is now. At his closing press conference, Medvedev held up a golden coin bearing the words “united future world currency,” which he said was minted in Belgium and handed to G-8 attendees.

    “Even the mints” are thinking about a post-dollar world, Medvedev said. The test coin “means they’re getting ready.”
     

Share This Page