By Yash Tandon, Benjamin W Mkapa
ISBN-10: 1906387516
ISBN-13: 9781906387518
ISBN-10: 1906387524
ISBN-13: 9781906387525
Demanding the misdirected guidelines of the final 30 years concerning the South's accountability to boost itself instead of anticipate the North to hold the load, this book offers replacement innovations and paradigms of improvement for coverage makers and peoples' routine on a large range of issues. It invitations readers to "dare to imagine in a different way" and concentrate on what globalization has changed into lately.
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Extra info for Development and Globalisation: Daring to Think Differently
Example text
In ‘The G8 has no legiti‑ macy – it should dissolve itself’ we examine the credibility of the G8 as an institution of global governances. It has the power of the mighty, but it does not have the voice of the people. That shrewd combination of power plus voice that the founders of the United Nations correctly forged in the world body is lacking in the G8. The G8 is a self-selected club of the rich and powerful. Nobody ever gave it the mandate or authority to decide on matters of the economy, climate change or security, or to impose sanctions on states that do not bend to their will.
The new order is still in the making, its essential features are in the twilight zone and are symbolised by the actions of the WTO and NAM. The WTO is a global trading and negotiating body where eco‑ nomic power asymmetries are played out during this transition period. The negotiated texts of the WTO are binding, backed by the power of sanctions. Sanctions are an instrument more likely to be used by the developed than the developing countries. The developed countries (with the help of the WTO secretariat) are trying to use the present power asymmetry to extract the most they can from the developing countries, especially from the big‑ ger countries such as Brazil, China, India and South Africa.
44 2 RESTRUCTURING GLOBAL GOVERNANCE Good governance, colonial guilt and contemporary challenges 1 March 2008 The developing countries are being encouraged to adopt good governance and investment reforms as a way of improving the investment climate and efficiency. At one level, this prescription is only common sense. Who can doubt the importance of good governance, or of efficiency in the use of capital, or of improving the investment climate? However, matters are not as simple as they appear at first sight.