A police officer conducts a security sweep in a conference room where G-20 heads of state will gather / AP
Leaders of the Group of Twenty (G20) meet on the
French Riviera this week, but their stay on the Cote d'Azur will be
anything but relaxed. The world economy is in deep trouble again,
plagued by sovereign debt crises in Europe and the United States,
persistent global imbalances and currency misalignments, low growth and
stubborn unemployment in developed countries, and inflationary pressures
in emerging economies. A year ago at Seoul, the G20 seemed finally
poised to transition from an emergency crisis committee to a global
economic steering group. The Cannes summit finds the G20 once again at
the heart of the maelstrom, in full crisis-management mode.
The narrowed Cannes agenda reflects this reality.
When France assumed the G20's rotating presidency a year ago, President
Nicolas Sarkozy proposed a sweeping summit agenda. Paris' ambitions
included an overhaul of the international monetary system and
comprehensive "global governance reform"--including enlargement of the
UN Security Council.
But ambition has yielded to sobriety. The Cannes
action plan will focus on two main goals: bolstering the recent eurozone
agreement, to ensure that the continental crisis does not spread
worldwide; and restoring momentum behind global growth.
The Cannes summit is the sixth since November 2008,
when George W. Bush first convened a meeting of G20 leaders in the wake
of the global credit crisis. The G20's record since then has been
checkered. Its zenith was the London Summit of April 2009, which averted
a 1930s-style depression by injecting $5 trillion (AFP)
into the global economy, including a trillion dollars in new IMF
resources. But subsequent summits in Pittsburgh, Toronto, and Seoul saw
this diverse coalition of mature and emerging economies begin to fray.
With the world economy once more in crisis, the
conditions may be ripe for greater G20 solidarity. But to be considered a
success, the summit must achieve six objectives:
Dampen--and Contain--the Crisis in the Eurozone.
After months of dithering, the seventeen eurozone governments have
sought to calm global financial markets by ratifying the terms of
the European Financial Stability Facility (EFSF) and the dimensions
of the Greek bailout. These actions are likely to have only a
temporary effect, however. The EFSF remains too small to cope with
sovereign debt crises in larger EU nations. It also does nothing to
correct a fundamental structural flaw: The eurozone is a monetary
union that leaves fiscal policy in national hands. The Cannes
summit provides U.S. President Barack Obama and other G20 leaders
an opportunity to escalate pressure (PDF)
on eurozone leaders. It also gives major surplus economies like
China and Brazil the chance to help contain a spillover of the
eurozone crisis, by using their massive capital resources to
bolster the International Monetary Fund's crisis-fighting resources.
Offer a Credible Plan for Macroeconomic Policy Coordination.
One of the biggest barriers to global growth is uncertainty about
the direction of economic policy in the world's most powerful
nations. To counter this impression of drift and disarray, summit
leaders must present a clear message on the steps they intend to
take (both individually and collectively) to advance the Framework for Strong, Sustainable, and Balanced Growth
(or Framework), which their governments endorsed in September
2009. That framework remains sound, but
follow-through--particularly on currency imbalances and sovereign
debt problems--has fallen far short. The G20 communiqué should provide
a menu of dramatic and credible policy options, based on the
reality that not all countries can export their way to growth.
Give the Mutual Assessment Process "Teeth."
At the 2009 Pittsburgh summit, G20 member states endorsed a mutual
assessment process (MAP), to evaluate the impact of member-state
policies in advancing the goals of the "Framework." Earlier this
year, G20 members agreed on indicators to assess macroeconomic
imbalances, as well as benchmarks against which such imbalances
could be measured. In theory, this marks a huge concession from
major countries like China and the United States, which have opened
themselves to external scrutiny, including by the IMF. In reality, as
former Mexican president Ernesto Zedillo observes,
G20 members have weakened the MAP by "deliberately" undercutting
the fund's watchdog function. Leaders can correct this flaw in
Cannes by endorsing the IMF's ability to "name and shame" G20
members, consistent with the surveillance mandate set out in
Article 4 of the Fund's Articles of Agreement
Deliver on Promised IMF Governance Reforms. The emergence of the G20
as the premier forum for global economic coordination reflects a
tremendous and ongoing shift in global economic power from
established to emerging countries. In 1990, the advanced market members
of the Organization for Economic Cooperation and Development (OECD)
accounted for some 60 percent of world GDP. By 2025, that figure
will be 30 percent--roughly equal to the shares of China, India,
Brazil, and Russia. Most international institutions, however, have
failed to adjust their voting and governance structures
accordingly. G20 members agreed to modest shifts in IMF quota
shares and executive board seats to benefit emerging-market
economies, but implementation has lagged. At Cannes, the G20 should
provide explicit details of these adjustments and endorse a firm
timetable for implementation.
Show Commitment to Financial Regulation.
Three-and-a-half years after the collapse of Lehman Brothers nearly
brought the global financial system to its knees, G20 nations have not
kept promises to create common prudential standards for major
cross-border financial institutions. Obvious dangers include both a
reprise of the Lehman fiasco and a "race to the bottom," as
inconsistent national rules encourage regulatory arbitrage. The
G20's major institutional innovation to address such risks, the
Financial Stability Board (FSB), remains under-resourced and wildly
understaffed (with about twenty employees)--mocking U.S. Treasury
Secretary Timothy Geithner's description of the FSB--alongside the WTO, IMF, and World Bank--as the "fourth pillar" of the Bretton Woods system. At Cannes, G20 leaders should commit
to giving the FSB the tools it needs--and to expanding FSB
membership well beyond G20 countries. The G20 must also take steps to
police the world's "shadow banking system" and strengthen global
supervision of risky derivatives markets.
Revive the Global Trade Agenda.
The failure of G20 leaders to throw their collective weight behind
multilateral trade liberalization has been a huge disappointment.
To be sure, G20 nations have held the line against
beggar-thy-neighbor protectionism. But international trade remains
in crisis, with a proliferation of trade-diverting bilateral,
regional, and "mini-lateral" agreements threatening to fragment the
global economy. Over five summits, G20 leaders have repeated their
intent to complete the moribund Doha development round of trade
negotiations--and done nothing to follow up. Rather than breed
cynicism with another ritual incantation of Doha, the Cannes
communiqué should focus on two immediate concrete steps: extend
duty-free access for exports from the least developed countries,
and redouble support for trade facilitation. The G20 leaders should
also signal their determination to revitalize multilateral trade
negotiations at the upcoming WTO ministerial meeting in December.
As with all G20 (and G8) summits, the final communiqué in Cannes will
touch on a variety of other worthy issues--from promoting food security
to adopting anti-corruption measures. But its success or failure will
be judged by whether the assembled leaders take the bold steps needed to
contain financial risks, revive global growth, and adapt old
institutions to new realities.
This article originally appeared at CFR.org, an Atlantic partner site.
She lived with us for 56 years. She raised me and my siblings without pay. I was 11, a typical American kid, before I realized who she was.
The ashes filled a black plastic box about the size of a toaster. It weighed three and a half pounds. I put it in a canvas tote bag and packed it in my suitcase this past July for the transpacific flight to Manila. From there I would travel by car to a rural village. When I arrived, I would hand over all that was left of the woman who had spent 56 years as a slave in my family’s household.
The condition has long been considered untreatable. Experts can spot it in a child as young as 3 or 4. But a new clinical approach offers hope.
This is a good day, Samantha tells me: 10 on a scale of 10. We’re sitting in a conference room at the San Marcos Treatment Center, just south of Austin, Texas, a space that has witnessed countless difficult conversations between troubled children, their worried parents, and clinical therapists. But today promises unalloyed joy. Samantha’s mother is visiting from Idaho, as she does every six weeks, which means lunch off campus and an excursion to Target. The girl needs supplies: new jeans, yoga pants, nail polish.
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At 11, Samantha is just over 5 feet tall and has wavy black hair and a steady gaze. She flashes a smile when I ask about her favorite subject (history), and grimaces when I ask about her least favorite (math). She seems poised and cheerful, a normal preteen. But when we steer into uncomfortable territory—the events that led her to this juvenile-treatment facility nearly 2,000 miles from her family—Samantha hesitates and looks down at her hands. “I wanted the whole world to myself,” she says. “So I made a whole entire book about how to hurt people.”
Isabel Caliva and her husband, Frank, had already “kicked the can down the road.” The can, in their case, was the kid conversation; the road was Caliva’s fertile years. Frank had always said he wanted lots of kids. Caliva, who was in her early 30s, thought maybe one or two would be nice, but she was mostly undecided. They had a nice life, with plenty of free time that allowed for trips to Portugal, Paris, and Hawaii.
“I wasn’t feeling the pull the same way my friends were describing,” she told me recently. “I thought, maybe this isn’t gonna be the thing for me. Maybe it’s just going to be the two of us.”
At times, she wondered if her lack of baby fever should be cause for concern. She took her worries to the Internet, where she came across a post on the Rumpus’ “Dear Sugar” advice column titled, “The Ghost Ship that Didn’t Carry Us.” The letter was from a 41-year-old man who was also on the fence about kids: “Things like quiet, free time, spontaneous travel, pockets of non-obligation,” he wrote. “I really value them.”
The office was, until a few decades ago, the last stronghold of fashion formality. Silicon Valley changed that.
Americans began the 20th century in bustles and bowler hats and ended it in velour sweatsuits and flannel shirts—the most radical shift in dress standards in human history. At the center of this sartorial revolution was business casual, a genre of dress that broke the last bastion of formality—office attire—to redefine the American wardrobe.
Born in Silicon Valley in the early 1980s, business casual consists of khaki pants, sensible shoes, and button-down collared shirts. By the time it was mainstream, in the 1990s, it flummoxed HR managers and employees alike. “Welcome to the confusing world of business casual,” declared a fashion writer for the Chicago Tribune in 1995. With time and some coaching, people caught on. Today, though, the term “business casual” is nearly obsolete for describing the clothing of a workforce that includes many who work from home in yoga pants, put on a clean T-shirt for a Skype meeting, and don’t always go into the office.
U.K. police said at least 22 people are dead and 59 injured following the incident at Manchester Arena.
Here’s what we know:
—Greater Manchester Police said 22 people are dead and 59 injured following reports of an explosion at the Manchester Arena.
—Authorities are treating the explosion as a terrorist attack, believing the incident to be carried out by a lone male. The attacker, who reportedly detonated an explosive device, is said to have died at the arena.
—The venue was the scene of an Ariana Grande concert. British Transport Police said there were “reports of an explosion within the foyer area of the stadium” at 10.35 p.m. local time, but Manchester Arena said the incident occurred “outside the venue in a public place.”
—This is a developing story and we’ll be following it here. All updates are in Eastern Standard Time (GMT -4).
New Orleans Mayor Mitch Landrieu explains to his city why four monuments commemorating the Lost Cause and the Confederacy had to come down.
Last week, the City of New Orleans finished removing four monuments—to Confederate President Jefferson Davis, Generals P.G.T. Beauregard and Robert E. Lee, and the postwar battle of Liberty Place. The removals occasioned threats, protests, and celebrations. On Friday, Mayor Mitch Landrieu explained to his city why he had concluded that the monuments needed to come down.
The soul of our beloved City is deeply rooted in a history that has evolved over thousands of years; rooted in a diverse people who have been here together every step of the way—for both good and for ill.
“Having a slave gave me grave doubts about what kind of people we were, what kind of place we came from,” Alex Tizon wrote in his Atlantic essay “My Family’s Slave.”
A thousand objections can be leveled against that piece, and in the few days since it was published, those objections have materialized from all quarters. It’s a powerful story, and its flaws and omissions have their own eloquence. For me, the most important failure is that Tizon seems to attribute Lola’s abuse entirely to another culture—specifically, to a system of servitude in the Philippines—as though he believes, This doesn’t happen in America. But that system is not only in America, it’s everywhere. It ensnares not only immigrants, but everyone.
An anthropologist discusses some common misconceptions about female genital cutting, including the idea that men force women to undergo the procedure.
I recently had a conversation that challenged what I thought I knew about the controversial ritual known as “female genital cutting,” or, more commonly, "female genital mutilation."
FGC, as it is abbreviated, involves an elder or other community member slicing off all or part of a woman’s clitoris and labia as part of a ceremony that is often conducted around the time that the woman reaches puberty. Many international groups are concerned about FGC, which is practiced extensively in parts of Africa and the Middle East and is linked to infections, infertility, and childbirth complications.
Organizations such as the United Nations have campaigned against the practice, calling for its abolition as a matter of global health and human rights. But despite a decades-old movement against it, FGC rates in some countries haven't budged. While younger women are increasingly going uncut in countries such as Nigeria and the Central African Republic, according to a survey by the Population Reference Bureau, in Egypt more than 80 percent of teenagers still undergo the procedure.
The story of a decades-long lead-poisoning lawsuit in New Orleans illustrates how the toxin destroys black families and communities alike.
Casey Billieson was fighting against the world.
Hers was a charge carried by many mothers: moving mountains to make the best future for her two sons. But the mountains she faced were taller than most. To start, she had to raise her boys in the Lafitte housing projects in Treme, near the epicenter of a crime wave in New Orleans. In the spring of 1994, like mothers in violent cities the world over, Billieson anticipated the bloom in murders the thaw would bring. Fueled by the drug trade and a rising scourge of police corruption and brutality, violence rose to unseen levels that year, and the city’s murder rate surged to the highest in the country.
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