G20 agenda for Summit of Americas?
More and more it appears that the April 17-19 Summit of the Americas will all but scuttle its current agenda and focus on finding solutions for the worst global economic crisis in living memory just as the crucial G20 meeting which begins in London on Thursday will seek to do.
The G20 leaders of the world’s biggest economies that account for over 80 per cent of international gross domestic product (GDP) include five who represent countries that will participate in the Port of Spain summit. These are the United States, Canada, Mexico, Brazil and Argentina.
According to diplomatic observers, the mood is about getting out of the global recession – coming up with answers – and the Summit of the Americas’ woolly theme of “Securing our Citizens’ Future By Promoting Human Prosperity, Energy Security and Environmental Sustainability” is almost irrelevant.
This theme was agreed on two years ago, long before the financial and economic crisis descended on the United States, Europe and the Far East.
U.S. President Barack Obama will be presenting his US $800 billion fiscal stimulus package as the best means of kick-starting the U.S. economy and paving the way for renewed international trade.
Brazil’s President Lula, who is growing in influence in Latin America, wants measures to combat protectionism, an issue for which he can count on a lot of support from his neighbour, Argentina.
Mexico will be seeking drastic reform of the International Monetary Fund (IMF) which in the past has imposed severe conditionalities on struggling countries (like Trinidad and Tobago, for instance, in 1987.)
Mexico can count on significant support for its position from G20 countries and even greater support from Latin America.
It seems, therefore that the Port of Spain Summit will look like a continuation of the London Summit with Obama, Lula, Chavez and Mexican President Felipe Calderon doing the bowling.
Latin America has already begun to feel the pinch as the international lending agencies and banks are only lending to countries and corporations with good credit ratings and even so at high interest rates.
Trade has also stagnated as the developed world sink deeper and deeper into recession.
The outspoken Lula last week said that “white people with blue eyes” were responsible for the current international economic difficulties.
The G20 Summit is mired in some strife with labour and civil society groups already staging street demonstrations in London.
The demonstrations are expected to continue during the meeting and the organisers have instituted tight security as there is evidence of planned disruptive activity.
The G20 countries are the United States, France, Germany, the United Kingdom, Italy, Canada, China, India, South Africa, Japan, Brazil, Saudi Arabia, Australia, South Korea, Russia, Indonesia, Mexico, Turkey, Argentina, and the E.U.
Some 34 Caribbean, North American, Central American and South American countries will participate in the Summit of the Americas.
Cuba will be the notable exception and it is expected that a decision will be taken about lifting the 47-year suspension of the communist country from the Organisation of American States (OAS).
Latin and Caribbean leaders will also press Obama to remove the trade and travel embargo on Cuba.