April 2nd, 2009
08:51 AM ET

G20 must re-shape globalization

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José Manuel Durão Barroso
President of the European Commission
For The Daily Telegraph

The present crisis is the first big crisis of the globalization age. Indeed, some people blame it on globalization. They advocate "de-globalization" as the way out of the crisis.

Plausible as it sounds, it is dead wrong. The way out of this crisis is not "de-globalization". Protectionism and economic nationalism are false friends which fuel poverty and conflict: we saw that in the 1930s. The way out of this crisis is "re-shaping globalization".

We need to establish a global set of rules that allow us to master globalization. It is only by working together across borders that we can put the potential of the markets at the service of the citizens, and address global challenges like climate change, energy security and fighting poverty.


Filed under: Economy • Global 360° • Raw Politics
soundoff (4 Responses)
  1. Claudia, Houston, Tx

    G20 obviously haven't heard the Republicans in this country who don't aspire to reshaping anything, just keeping things the way Bush left them.

    April 2, 2009 at 1:43 pm |
  2. Gilbert Martinez

    Germany and France are right that there is a need for specific and far reaching rules governing the new World Economy. But more of an issue to them should be how little say they have had during these talks. Germany and specially France are losing power and prestige at an alarming rate. If they continue their six hour work days and huge tax burdens on their industries to support full time protestors these once great nations will be soon relegated to second rate G-20 members.

    April 2, 2009 at 1:35 pm |
  3. Melissa

    Its time for a true global economy, thats what. A global set of rules governing how lending, credit, and money works across the world. Its time for regulations across the world. And its time for a global money system.

    While countries should still be able to keep complete independance in all other matters, the way money works needs to change and we all need to work together for it.

    Unfortunately, I don't see that happening because of the greed that is part of human nature.

    April 2, 2009 at 11:16 am |
  4. Michael "C" Lorton, Virginia

    How does one reshape "greed?"

    April 2, 2009 at 11:15 am |