RUNNING THE WORLD: A LETTER TO THE ECONOMIST (July 7, 2008)

It is hard to disagree with your main leader’s call for the enlargement of G8, whose summit is now taking place in Japan (“What a Way to Run the World,” July 5, 2008). At the moment, only Russia represents the so-called emerging economies at the summit, while giants like China, India, and Brazil are very much excluded from it. As you say, emerging economies now account for more than half of global economic growth. It is also hard to disagree with the same call in your four-page briefing on who runs the world (“Wrestling for Influence”). Indeed, the emerging economies should play a greater rôle in the United Nations, the International Monetary Fund, the World Trade Organization, and so on. Undoubtedly, all these clubs would benefit from new and strong members. But it is difficult to agree with your optimism regarding such changes. Even if all the clubs you mention throw their doors wide open, the world is unlikely to be run very much better than today. No matter how they are reformed, the clubs will surely remain prejudiced and fractious, albeit in a slightly different way. Any untoward optimism in this regard will confuse the innocent rather than bolster the worldly. When it comes to running the world, a healthy dose of pessimism is essential.