..."The real reasons for the G8’s survival lie elsewhere. The first and most important is the rediscovery of the notion of “the west”. The group of countries that are meeting in the UK no longer include all of the world’s largest economies. But, with the exception of Russia, they share high living standards and a commitment to liberal democracy. They are a more coherent group than the G20 – which includes nations with very high levels of poverty, such as India, as well as autocracies, such as China and Saudi Arabia. Faced with high unemployment in both Europe and the US – as well as the long stagnation of Japan – the G8 nations are looking for fresh ways to stimulate their economies."...
Posted on: Tue, 18 Jun 2013 00:11:36 +0000