Monday, July 07, 2008

G8 meeting begins in Japan

The G8 meeting is slated to begin today, Monday July 7. The topics up for discussion include, Climate control, Energy prices and a weakening U.S. economy. These are all very good and important topics. The problem as I see it is the countries who attend, or more importantly who do not attend.

The G8 include the United States, Canada, U.K., France, Germany, Italy, Japan and most recently (1991) Russia. The largest growing economies China,India, Brazil, South Africa and Mexico are only includes in "sideline Dialogue". This makes little sense to me. These countries are growing very rapidly and are a main driver of the issues being discussed. As Antonio Patriota, Brazil's ambassador to the United States said last week,

"The current format is not really sustainable for much longer."

and I tend to agree. How do you solve the problems of the world without its major players being included in the conversation. The European community has three member's yet a single currency/economy, why not give them one representatve? Things need to change and hopefully the current G8 will realize this and expand the currenct format.

Good luck and Good Currency Trading.



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