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2010-10-10

G20 and other world and international institutions

Comments on Thom Woodroofe “The G20: More development needed”, 10/10/2010, http://www.eastasiaforum.org/2010/10/10/the-g20-more-development-needed-2/
The G20 should consolidate on its role in world economic and financial affairs first to make it both effective and efficient to steer the world economy and ensure financial stability.

In that role, the G20 should gradually play a leading role in coordinating the agendas of main international economic and financial institutions like the world trade organisation, IMF and the World Bank.

It is possible and indeed desirable for G20 to play a leading role in negotiating a world climate change agreement. The UN should mandate G20 such a role, perhaps as its effective climate change secretariat.

At this stage, it appears more difficult for the G20 to play the role for world security, given the complexity of security issue. Just imagine, if the five UN security permanent members could not reach agreement on some issues, how could the G20 which include all those five to reach agreement on the same issues?

So, the best strategy for the G20 is to play a role in areas it can be successful and gradually to establish itself to be an effective world body, and then to broaden its agenda and influences, including possibly the reforms of UN governing mechanisms

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