Tuesday, July 8, 2008

The Economist: What a way to run the world?

G8, U.N., IMF, WTO, et al.

Excerpt - The G8 is not the only global club that looks old and impotent. The U.N. Security Council has told Iran to stop enriching uranium, without much effect. The nuclear non-proliferation regime is in tatters.

The International Monetary Fund, the fireman in previous financial crises, has been a bystander during the credit crunch. The World Trade Organization's Doha round is stuck.

Of course, some bodies, such as the venerable Bank for International Settlements, still do a fine job. But as global problems proliferate and information whips around the world ever faster, the organizational response looks ever shabbier, slower and feebler. The world's governing bodies need to change… From the Economist Magazine via Seattle Post-Intelligencer


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