Is the US ready to reinterpret American identity for a multi-polar world?
The outcome of last week’s G20 summit in Pittsburgh has been depicted as a watershed in world economic history. By designating the G20 as the “premier forum” for managing the global economy, the communiqué recognised the major shift in economic power away from Europe and the United States to emerging powers in Asia, Africa and Latin America. The enthusiasm that surrounded the event has largely focused on the constructive role played by the Obama administration. After the tribulations of the Bush years, the United States has re-emerged at centre-stage of the process of international economic cooperation. Indeed, as the G20 takes over from the G8, there have been headlines describing a “new international order” and outlining how the Obama administration has successfully managed the transition. However, in examining two of the critical proposals to come out of the G20 meeting, there are reasons to doubt the magnitude of the changes. The proposal for achieving a sustainable and balanced gr