The ship may be in need of an overhaul, and perhaps some new senior officers – but not until it is safely back in port.
The G20 is still a relatively new phenomenon. As Gary Hawke of the New Zealand Institute of Economic Research, points out, it has no basis in agreed treaties, is not part of the UN system and has no distinct legal standing.
"This imposes constraints on the ability of the G20 to create rules which can be applied to non-members or for that matter, to dissenting members," Hawke says.
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Rather, he sees it as a forum where disagreements can be resolved, experiences can be shared and friendships established, leading to the possibilities for personal diplomacy in the future.
But this seems hardly sufficient in a world where situations change almost overnight and immediate and often painful decisions have to be made. Australian Foreign Minister Kevin Rudd echoes the views of a wide constituency when he says that the world expects global leadership from the Cannes meeting and any failure in this area will threaten its credibility.
As Prime Minister, Rudd was one of the architects of the 'modern' G20 as the principal global engine room of economic decision-making. Any weakening of this role would not only damage his legacy, but Australia's standing as a middle-range power punching above its weight.
More importantly, failure could result in a retreat into the old G7/8 club of rich, mainly Western nations – the exact opposite of what is needed. In Cannes, the G20 must reach out to the non-member states, setting out an agenda for economic stability and a pathway to prosperity for all.
The G20 was born out of one crisis and reached maturity under another. It is significant that its next meeting is in Europe at the seat of yet another major economic challenge. History demands that that it steps up to the plate once again.
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About the Author
Graham Cooke has been a journalist for more than four decades, having lived in England, Northern Ireland, New Zealand and Australia, for a lengthy period covering the diplomatic round for The Canberra Times.
He has travelled to and reported on events in more than 20 countries, including an extended stay in the Middle East. Based in Canberra, where he obtains casual employment as a speech writer in the Australian Public Service, he continues to find occasional assignments overseas, supporting the coverage of international news organisations.