This essay explores ways in which democracy must be reformed in order to meet the new requirements posed by globalisation. I will argue that the main problem is not how to conceive a blueprint of a global democratically structured government, and define its tasks. The main problem is rather to find out how we could come from here to there. To come closer to an answer, the chapter analyses who or what it is what blocks the road towards global democracy, and why. In concluding, it shall mention some new developments which possibly allow to open a new window of opportunity. European governments will have an especially important part to play here, together with civil society.
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EU-India Free Trade Talks: In Whose Interest? + The Risk of a Global Economic Recession + FDI at New Heights + EITI Beyond German G8 Presidency + Are We 'All Keynesians Now'? + South-South Cooperation against Child Labour
Lisbon EU-Africa Summit + Shift in Globalisation Debate + Trade Unions and Globalisation + The Falling Dollar + The Biofuel Debate in Brasil + Agentina's Comback without the IMF
The world´s 50 poorest nations saw the values of their exports climb by a collective 80% from 2004-2006 and recorded their highest rates of economic growth in 30 years. But their increased dependence on selling a few unsophisticated products leaves them vulnerable to a reversal, this years LDC report of UNCTAD warns.
The new century started with streamlining initiatives from the IMF and the World Bank to their conditionality, but these have not managed to deliver real change. The arguments have not changed over the last years, and opponents have become firmly entrenched in their positions. The machinery, however, seem to be coming slowly to life after the impasse.
According to the new UN's World Economic and Social Survey, recent optimism that the corner was being turned on poverty thanks to faster growth in emerging markets and even some very poor economies is turning to anxiety, as the global economy downshifts, prices spike and weaknesses in formal-sector employment are exposed.
For the first time at a G8 summit the group of five countries which are called Outreach-5 (O5) by the G8 (Brazil, China, India, Mexico and South Africa) held its own meeting prior to the meeting with the G8 leaders. The G5 Political Declaration is providing substantial alternatives to the multiple crises of the world - from finance to food security, from energy to climate and development.
Inflation is already rising in many advanced economies and emerging markets. Will rising global inflation lead to a sharp global economic slowdown? Even worse, will it revive stagflation, that deadly combination of rising inflation and negative growth?