The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
Michelle Pressend -
In mid-June, Russia, in it’s role as President of the Group of Twenty Countries (G20), hosted the first Civil Summit (C20) in Moscow in the run up to the G20 Summit that will take place in September this year. The C20 is a gathering of civil society organisations that were brought together, ostensibly, to inform the upcoming G20 discussions.
The C20 joins the ranks of the business lobby: B20 and labour: L20. There is also a group of think tanks called the T20 and recently the youth...
Leonard Gentle -
The ongoing saga of the United States of America's (US) accusation against China – that it is deliberately pushing down its currency – and thereby defeating US attempts to get balance in the world economy, trundled on into the G20 meeting in Korea. At the same time, middle range countries such as Brazil, South Korea, Russia and South Africa (SA) have been battling with currencies that are hugely inflated.
Accusations flew fast and furious that countries were using currency...
Democracy Now -
Before leaving Seoul in South Korea, America's President Barack Obama defended last week’s $600 billion move by the Federal Reserve to buy up government bonds. Obama rejected critics’ claims the U.S. is waging a currency war by devaluing the dollar. But Obama failed to win international backing for his effort to pressure China to raise its currency value. The U.S. has accused China of artificially manipulating the price of the yuan for economic gain.
To find out more about these...
Paul Jay of the Real News Network argues that the agreement emerging from the Toronto G20 summit had "a little bit of something for everybody."
According to Jay, much that is contained in the G20 document is conditional with just one "hard agreement," which states, "The advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016." (The G20 Summit Declaration)
The...
Didier Jacobs -
They used to be seven. They embodied power and relished it. Other leaders envied their photo ops. They were the cream of the cream, the top of the top. They were the G7.
And now they are 20, and they meet in Toronto this week. The G20 is the Senate of our global government. It sets global economic policy, giving direction to an alphabet soup of global executive agencies, from the International Monetary Fund (IMF) to the Organization for Economic Cooperation and Development...
Absolutely, says Professor Leo Panitch who teaches political economy at York University in Canada. "The American dollar is not going away as the global reserve currency. There is nothing that can possibly replace it," contends Panitch. The current speculation around the dollar needs to be seen in context, he says. That context is: Structurally, to be a global reserve currency, a country must have deep domestic financial markets and enormous institutional financial...
