Sept. 26 (aftermath):
* G20 members will now be able 2 assess each other's economic policies! big deal! that will be crucial for recovery not
* The G20 re-affirmed (?) their commitment (?) to a conclusion of Doha WTO talks next year!!!! Yeah, right! Does Obama have the so called "fast track" powers granted by US Congress for a Doha agreement that GWB did until mid-2007?
* Regulations re banking will be phased in after the end of the crisis only to avoid a new one.
1) Is the G20 entitled to make decisions that (most of) the rest of the world will then be asked to abide to? (WTO 153 members)
2) Is G20 a better vehicle than G8 for coordinating the world economy? Why not a revamped WTO or a G153 (WTO has members) or UN (G192)?
Should the G20 also replace the WTO? 85% of global GDP sounds like nice but faulty reasoning IMO!
3) G20: if executive pay is to reflect long-term value creation not excessive risk taking then stock value is reflection because of NPV: The value of a share is supposed to reflect the NPV of its future performance as analysed by the market + discounted 2 present
4) better balance in the world economy: how on Earth will the USA save more and China consume more? G20 lip service?
5) G20 to replace G8: it is then time for a World Parliament (or almost world, eg 153 or 192) to balance things?
6)if the G20 are so concerned with global economic systemics, why not then harmonize their laws to help the small companies export + trade?
7) 85% of global GDP in G20 but what % of the population of the 153 WTO countries is represented by the G20 population?
8) A radical idea: The market economy countries of Earth should form +/-20 regional entities like EU + then form a "G20" with 100% POLITICAL representation!