After two days of high-profile meetings and deliberation last week, the G-20 managed to make official something everyone already knew: the United States and Europe can no longer effectively manage the whims of the global economy on their own. To that end, the group reached consensus on two major fronts: 1) the more diverse G-20 should effectively replace the Western-dominated G-8 as the world’s primary economic coordinating body; and, 2) voting power within the IMF should be reformed to give greater voice to emerging powers. Stop the presses, right? Yes and no. This is big news, but not necessarily new [...]
President Barack Obama’s performance at the United Nations last week was widely hailed — and condemned — as a clear departure from that of his predecessor, George W. Bush. His most telling statement spoke volumes about the limits of U.S. power in an interdependent world: “Those who used to chastise America for acting alone in the world cannot now stand by and wait for America to solve the world’s problems alone.” Subtext? Atlas has put down the heavy globe and has neither the intention nor the wherewithal to pick it up again. If that makes for an uncertain age, it’s [...]
On Sept. 23, U.S. President Obama spoke before the United Nations General Assembly for the first time as president. The president outlined “four pillars” he believes are “fundamental to the future that we want for our children”:”non-proliferation and disarmament; the promotion of peace andsecurity; the preservation of our planet; and a global economy thatadvances opportunity for all people.” Full transcript.
