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BEIJING Air Max 270 Tilbud , July 6 (Xinhua) -- For almost a decade since the birthof the Group of 20 (G20) mechanism in 1999, it only gatheredfinance ministers and central bankers, and served only as asupplement to the Group of Seven bloc, an exclusive club of wealthynations dominated by Western powers.
It has all changed when the United States and some Europeancountries found it hard to withstand merely by themselves the tidalwaves of the 2008 global financial tsunami.
Therefore, they had to join the developing world and expand theconsultative body to a platform for leaders of the world's majorcountries to negotiate ways to arrest the adversities of thefinancial crisis and to rationalize global economic governance.
As this year's G20 summit will be held later next week inHamburg Air Max 2019 Danmark , Germany, the evolution of the summitry over the past yearshas reflected the fact that the West-led world order that hasexisted for more than 200 years needs to be refashioned.
WORRIES OF THE WEST
When the Cold War ended, many political and business elites inthe West used to assume that the Western style democratic politicalsystem combined with free market economy could be mankind'sultimate form of governance, or in the words of U.S. politicalscientist Francis Fukuyama "the end of history."
Yet the so-called "liberal world order" they have taken forgranted in the post-war period seems to be unraveling before theireyes.
Martin Wolf, chief economics commentator at the Financial Times Air Max 2019 Tilbud ,wrote that "the hopes of a brave new world of progress, harmony anddemocracy, raised by the market opening of the 1980s and thecollapse of the Soviet Union between 1989 and 1991, have turnedinto ashes."
In Europe, Brexit Air Max 2018 Tilbud , the rise of ultra-right political groupsrepresented by figures like Marine Le Pen, leader of France'sNational Front, and the increasingly frequent terrorist attacks areclouding Europe's further integration.
Across the Atlantic, though Washington has vowed to remaincommitted to a strong alliance between the United States andEurope, their differences over trade and climate change Air Max 1 Tilbud , as well asrelations with Russia have unnerved the European leaders, who areon tenterhooks over whether U.S. President Donald Trump has anyinterest in maintaining his role as the "leader of the freeworld."
However, the deeply-challenged Anglo-Saxon world order stillstands only part of the Western establishment's wildest worries.What they also fret most is a theory that a rising China could stepinto America's shoes, and replace the old set of rules with itsown.
THE CHINA CONTROVERSY