March 18, 2009
According to a World Bank report and its president, Bob Zoellick, 17 out of the 20 G20 members have taken protectionist measures since the November summit in Washington. The G-20* leaders signed a pledge in Washington to avoid protectionist measures. The only exceptions appear to be Japan, Saudi Arabia and South Africa.
This report exposes the hypocrisy of our leaders and brings into question whether they are capable of leading us out of the present economic and financial crisis. It doers not augur well for the G20+ gathering in London next month. How will we be able to distinguish between rhetoric and reality?
* The G20 members are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and US.together with the EU.
Author : Stanley Crossick