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07:44, 20 апреля 2012

Charles Jordans blog about G initiatives

President Nursultan Nazarbayev’s proposal for expanding the number of nations that collectively play a major role in setting world economic policy is intriguing. The president wants a much larger contingent – perhaps a G-70 instead of a G-8 or G-20 – because he believes that the developed countries that dominant today’s policy-making process choose courses that suit their interests rather than the world community’s. He has pointed out, for example, that there are few developing countries in the Group of Twenty.

When Nazarbayev announced his G-Global Initiative on December 15 of 2011 – on the eve of Kazakhstan’s 20th anniversary of independence – he offered a general concept rather than a detailed blueprint for realizing his objective. He apparently decided to let others come up with a game plan for achieving it. The Astana Economic Forum has the potential to be the place where a detailed blueprint emerges. It will include dozens of economists, government economic policy-makers and other experts, including 11 Nobel Prize winners. A number of those experts – including some of the Nobel laureates – have said before that they believe the global economic system and the international monetary system are in need of reform. So the Forum will have plenty of brainpower to create a blueprint for expanding the number of countries that determine world economic policy.

The key to this occurring is whether someone can harness and focus that brainpower to create a G-Global implementation plan. I, for one, would like to see what the Forum’s collective brainpower could come up with. What do you think?

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