Changing of the guard?

It occurred to me yesterday that we appear to be seeing the beginnings of a shift in global power (if I wanted to be dramatic I could call it “the end of the ‘American Century’ “, although technically it’s more a beginning of a “Developing World Century”), more or less right on schedule. The following items have caught my attention in the last week or so, and together I think they paint an interesting picture:

  • A proposed shift in voting power at the IMF towards China and other developing economies.
  • Related to this, the apparent coming shift in power from the G8 to the G20, which was initially set up to allow the G8 to consult with developing countries and now seems poised to replace the G8 as a primary decision-making body. There are actually three or four news stories here, all of them adding color to the picture. (There are, of course, opposing views.)
  • Comments by the president of the World Bank (and other, related news stories over the last year or so) regarding the lessening value of the US dollar as the world’s default reserve currency.
  • The end of a fair chunk of US government oversight of ICANN, the group that administers the Internet domain system, in favor of international governance.

What about you? What news stories have you seen that add to (or take away from) this developing picture?

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3 thoughts on “Changing of the guard?

  1. R.D. Hammond

    When you elect an executive leader who believes in cooperation instead of mastery, good things happen! :)

  2. Feral Boy

    We are finding ourselves in the same place Great Britain was about a hundred
    years ago … and breaking two general rules for warfare (at the same time):

    1. From Germany — don’t start a two-front war
    2. From “Princess Bride” — “Never get involved in a land war in Asia!”

    And if we don’t get our financial house in order, we may be needing more wheelbarrows
    to carry our dollars in to the store to buy bread!

    It’s interesting also that both “pure” communism and “pure” capitalism are turning out to be
    not very good ideas … from both an economic and moral standpoint.

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