Yesterday, Saturday, October 23, 2010, the saga of inevitable setbacks of rich countries continued. The G20 meeting in South Korea to consider the problems of organization of world trade. Rich countries want us to think of the economic imbalances that threaten global growth (read: their only growth). The bankers of the world through the voices of finance ministers have yet again the finding of the economic strength of emerging and without telling the absolute uselessness of the IMF today.
In the situation as it stands now how the U.S. treasury secretary, Timothy Geithner could he imagine that his proposal would be acceptable to limit the current account imbalance States to 4% of GDP? Although no quantified commitments of rich countries for developing countries has so far been held!
It was an opportunity to witness once again to a decline in rich countries on global governance. The G20 has decided to transfer 6% of quota that is to say, contributions that determine the share of voting rights at the IMF towards emerging countries. This decision will benefit in particular India, China, Brazil or Turkey. This decline will intensify from one year to another without the blind leaders do not understand much of what is actually happening.
G20 decided more than the IMF's managing director will be appointed by all members, not the top five as at present.
The so-called developed economies weakening manifests itself by significant declines in global organizations. These changes herald more balance in the North-South relations give hope to all those who have always denounced the inhumanity of the management of these organizations (IMF, WB) and the hypocrisy that is its foundation .
This weakening international rich States and especially Europe is correlated to the evaporation of national sovereignty ... The weakness of these states today is the result of the cowardice of the leaders, selfishness, and the futility of their choice yesterday and today. Heads of state without vision, without any scale, lead nations that are dislocated in communitarianism gray prices contempt as their fathers before them have shown towards their future in poor countries who resumed today forces exponentially.
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