Janet CollinsMr Rudd Goes to Washington
March 25th 2009 05:42
The timing of Kevin Rudd’s trip to Washington could not be better. The G20 (Group of 20) meeting in the UK on April 2 may probably be one of the most important meetings of leaders in history and talks with President Obama on all the current international issues could prove significant.
The two leaders met overnight discussing the global economic crisis, the military presence in Afghanistan and climate change. It was the first face to face meeting of the two leaders and by all accounts so far, discussions seem to have gone well.
The G-20 has included, for the long haul, a peripheral group of nations many of which are kept strictly out of the more prestigious and select G8 (Group of 8), but things have changed and the shift in power is moving to the G20.
For those who are a little confused by all this G-talk which almost sounds like some sort of secret code, here’s a little information of what they are and how they came to be:
The G8 (Group of Eight) was initially established as the G5 in 1975 and the member countries were France, Germany, Japan, the UK and the USA. Later it became the G7 to include Canada and Italy and further expanded in 1998 as the G8 to include the Russian Federation. Summits are conducted annually for the leaders of these countries to collaborate on world economic problems.
The G20 (Group of 20) was established much later than the G8. In1999 this group was created as both a response to the financial crises of the late 1990s and recognition that key emerging-market countries were not adequately included in the core of global economic discussion and governance.
This group is made up of the finance ministers and central bank governors of 19 countries and also the European Union. These countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America
What is interesting is that the G20 is now taking centre stage as the world’s think tank rather than the G8. This was highlighted when the leaders and finance ministers from the countries of the G20, not just the G8, were called to Washington during the final days of the Bush Administration. Even Barack Obama, President-elect at the time, was invited along for the discussions.
This willingness to now incorporate a whole lot of nations into the international decision-making process has to be a lot better than the decisions being made by a select few. It can, however, be interpreted in more than one way.
The most obvious way to see it is that the more powerful nations really do need the co-operation of countries such as China and India in matters of economic policy and a whole lot of other important issues such as the environment. It could also be a very clever strategy of some of the more powerful nations to filter off some of the blame for the current economic meltdown.
While the international powers are ever so keen to include a broader number of nations into discussions, it is apparent that they are still wary of China’s enthusiasm to wield more influence in the international domain.
China’s attempts to up its stakes in the International Monetary Fund (IMF) have been continually rejected, obstruction being particularly heavy from the European sector. The IMF monitors short-term cross-border payments and foreign exchange positions and has been largely criticised for its performance in recent years. Despite this, it still retains a very powerful position internationally.
What has probably been the best strategy for Rudd is to plan this trip so that Washington may have enough time to absorb his policy ideas well before the April 2 meeting in the UK. The G20 was formed following the last international financial crises, the major powers realising they could not go it alone. They are being called on again to put their heads together and come up with solutions that will save the world from its own excess.
Surely then, it must be time to disband the G8 and its annual forums that are nothing but pure indulgence as we all saw at their last forum in Japan last year. I commented at the time how disgraceful it was that the world’s leaders were all feasting and dining and living to excess, all while discussing what could be done about the worsening world poverty.
Let’s hope they all show a little more restraint and humility at the upcoming G20 summit.
Image credit: Canberra Times
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Comment by Morgan Bell
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i hope Julia Gillard in getting a good bonus for running the place for 90% of the time
Comment by Janet Collins
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I could well criticise Kevin Rudd for travelling overseas way too much but I think this trip is warranted. Most of all because it is in the lead up to the G20 which I think may just be much more important this time than commentators are suggesting.
Obiously these trips also point out his confidence in Julia Gillard as a replacement leader. I don't think she would receive some sort of "higher duties allowance" but to be Acting Prime Minister so often, wouldn't do her career in politics and after it any harm either!
Comment by colocountry
Congrats on a well researched blog that is duly circumspect about these belated reactions to the last days of the capitalism as we know it. We need to look for the leadership that will resurrect our governing economic system but I doubt that it will be through extravagant pay-outs to institutions that have been caught up in nefarious schemes to bolster ridiculoius profit levels. Any grandma will tell you that 'you cant get something for nothing'! When will world governments learn that a government cant act like a pauper householder...eventually the buck stops...and then???
Col
Comment by Janet Collins
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I think we all get bombarded with information from the media about these G-something meetings and everyone just tunes out. I think this upcoming one is really important but I might be wrong.
I am sure Kevin Rudd has some pretty good ideas up his sleeve, although I will fall short of saying he could have the miracle cure.
Thanks for the comment.
Comment by Postmodern Critic
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Comment by Janet Collins
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You can probably guess by all the media at the moment that the activists are out big time in London. Let's just hope that the meeting is not wasted.
Thanks for the comment.
Janet