Today international leaders gather in one of the world’s pulsing hearts the cosmopolitan city of London where the Group of 20 or G20 will address the continuing economic crisis.
Nineteen nations plus the European Union as well as representatives from the International Monetary Fund and the World Bank compose this economically-focused group. Founded in response to the Asian financial crisis of 1999 the G20 is an economic powerhouse accounting for 85 percent of the global economy. To limit the spread of economic failure across the globe which many economists have declared to be the worst global recession of our lifetime the International Monetary Fund is suggesting that each member pledge two percent of its GDP toward a fiscal stimulus package. The summit also aims to restore the lending system by establishing stricter economic regulations and supporting the International Monetary Fund’s aid efforts in developing countries which have been hit hardest by the recession.
These ambitious goals reflect the urgency of the economic situation and more importantly they prove that international cooperation is the only solution. Nations cannot hope to stem the tide of recession alone. They must work together.
While the goals of the G20 are vague at best and have many obstacles in the way of agreement world leaders including President Obama and British Prime Minister Gordon Brown have committed to achieving the goals of the G20. The seriousness of the recession which has shocked the foundation of the 20 economic giants requires nothing less than firm commitment.
In response to this world gathering thousands of demonstrators have stormed London’s government district. Rather than protesting the meeting of the summit demonstrators are exhorting the G20 to reach substantial agreements to end the economic recession. Far from being violent or irrational demonstrations are paradoxically peaceful standing firm in their appeal for pragmatic solutions. These citizens like their powerful representatives know that the only hope against the overwhelming odds of economic failure lies in international cooperation.
These demonstrations indicate the vast influence of gatherings like the G20 whose conclusions affect all corners of the globe. These effects can either be the product of bold decision-making resulting in concerted action or the product of political deadlock resulting in further stagnation. International cooperation now more than ever makes or breaks the world we live in.
Cosmopolitanism – the ideology that recognizes this profound effect of the international arena seeks to foster global cooperation consideration and understanding – is implicit in the G20 summit. Achieving international cooperation and defeating the recession requires a cosmopolitan view of the world – an understanding of what unites and divides us. While cosmopolitanism is apparent in international conferences like the G20 summit it begins at the personal level.
Each leader’s ability to communicate and empathize will determine the effectiveness of the G20. Unfortunately French President Nicolas Sarkozy has already threatened to walk out if his demands for tougher regulation are not met destroying the spirit of international cooperation and cosmopolitanism. Only by cultivating a spirit of mutual understanding can international forums such as the G20 achieve the cosmopolitan hope of a humanitarian and united world.