I’ve been reading similar head lines about this Paris summit for some days now. After reading this article it still doesn’t sound too special. Like it’s more problem oriented and has a bottom-up approach; so does anyone get what exaclty is " new " about it?
It’s nothing new, it’s just bringing the neo-colonial instruments of the Breton Woods institutions into the 21st century.
If we want to talk about genuinely new financial systems we can look at BRICS+, Shanghai Cooperation Agreement, the multitude of bilateral currency swap agreements, and regional currency swap blocs.
Dedollarization and multipolarity are coming and they’re coming hard. The G7 are simply scrambling for any possible way to maintain their imperialist arrangements, but it’s not going to work.
Thanks for your trouble in reacting to my question. In so far I see, I do agree with your first statement.
But, please refrain from using broken dogmas, neo imperialistische dreams and stay on topic. Your usage of last century rhetoric & phrasing is, indeed nothing new, and extremely passé.
You do realise that globalisation is the de facto driving force creating a multipolar world? Everything is connected. The G7 accounts for more than half the global wealth and 30- 40% of the world’s GDP Disregarding them isn’t wise, feasible nor possible.
Also, you do realise that: “the original acronym “BRIC” (or “the BRICs”) was coined in 2001 by* Goldman Sachs economist Jim O’Neill*.” Yes he was an “imperialist”.
tl;dr:
A summit on global finance has brought together world leaders, international institutions and NGOs in Paris. Participants at the summit said that a 2015 goal set for 2020 - to provide $100 billion to support climate action in developing countries - was likely to be reached this year. Damette thinks one specific result of this summit shows wealthier nations have understood they need to get developing countries on board. Senegal became the fourth JETP country at this week’s Paris summit. Isabelle Albert, climate resilience venture capitalist at Paris-based Wind Capital, concurs the summit has produced some tangible results.
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