The Role of the G-20 Do?

" Test which we've been watching throughout the morning the global recession question front and center at the G twenty gathering in London today. But you have to think hard for the last major global policy implementation to come out. Of one of the summit so why the hub -- here to Wayne is John Bolton he's the former US ambassador to the United Nations. John Curtis distinguished fellow at the center for international governance innovation is a former Canadian foreign affairs and international trade chief economist. Good morning gentlemen thanks so much for being here ambassador let me start with you. We are watching some very challenging images right now outside the Bank of England people protesting about this G twenty summit. Explain to people from the very beginning what did teach when he start why wasn't implemented what would hoping to accomplish."

" Well it started about ten years ago I think the basic reason was at least some countries felt. That the existing G seven meeting of the industrialized democracies was too exclusive. And they wanted to broaden membership and that that's where you end up with the G-8 wanted but it's precisely for that reason. That you really can't expect much of substance to come out of this meeting because the interest in the systems of government and economy are just too desperate."

" So John what has this summit being able to accomplish. At least in the past decade."

" Well I think we're meeting -- I had like a story."

" I'm so sorry I apologize I'm just gonna hurt if I'm south pole you ambassador John hurt as my apologies."

" Is that primarily financial and and drama ambassador Bolton is quite right that the as the G twenty. -- started with a finance ministers' process about a decade ago. It has say it has led to them. Intensive discussions between. The Central Bank southerners such as the internal feathers and down. And also the finance ministers in order to get any affects on. How things were going -- and where things were we're worried. About Islam and implementing goofy column never has that is basically to have the the finance ministers and the Central Bank ministers. Governors work together and to to coordinate to some extent all sorts of policies but to understand each other better. And why they're doing what they're doing."

" Andrew Cooper if you've been visiting Fulbright terrible senator public diplomacy at the University of Southern California indeed had an opportunity to listen to -- ambassador John Curtis. Would you agree that basically this is a collective meeting to bring shared ideas together but that in this case at least this G twenty summit. Could take on a much more. -- and I guess more important decision making -- as it relates to what's going on this global recession."

" Exactly this is a global crisis I think what is unique about the G twenty. Is that bringing the old G seven G-8 countries and the new emerging powers this is very forceful and we can see that certainly a lot of the issues that are being talked about. Need the cooperation of countries like Brazil China and India and I think this is sort of a coming out party for those countries they're going to be very representational. And very important in the decision making."

" Ambassador Bolton we watch the president this morning earlier with the British Prime Minister Gordon Brown. Talk about what they hope to accomplish a lot of conversations about the regulatory -- framework and of course. Fiscal stimulus has been disagreement about the size and magnitude. I didn't want people suggest to me and after the that perhaps some of those European countries who do not want to participate to the degree in the United States is in fiscal sales. Perhaps they -- maybe behind the curve ball in this economic recovery. What little they say to -- the United States about what they're willing to do."

" Well I think the bottom line is that no head of government likes to go to a meeting like this and have ended in debacle so at the end there will be an agreed upon. Communique. President Sarkozy of France will not walk out but I think that simply underscores why the final statement. Will be some non substantive and and in an effort to paper over all of these differences these these discussions about. Respective policies have been going on for months. At lower levels that this is this is a meeting. Where the heads of state will come and read their speeches to each other and that adopt the communique. That there aides had negotiated you could do all that by email."

" Great point I don't until it is let me go to you I think there's cook clearly a microscope on this. Unlike any microscope that we've seen before in part because this global recession. But is also microscope on the fact that there are a lot of emerging economies. -- worth experiencing dire consequences as a result of this the only CD just came out with some some numbers suggesting 25 million people. Could lose their jobs this year I mean this is a big yeah ship."

" It's enormous Alexis but ambassador Bolton is absolutely right that. The it's only the directions of policy and understanding why lived the situation is in each country and why. Individual governments because that's after all where -- policies are actually. Decided upon and implemented the get a better sense from each other. At a at a political level as -- As really what is going on what is what is driving each of them log on to what is driving President Obama what is driving president prime minister brown. And the at the Chinese and the Brazilian. Leaders so the get a better sense as to let. Better take on each other. -- I'm probably more what is all about."