Today, were particularly faced with three challenges in terms of global governance, whichacquire urgent and quality action. The first challenge is that while the economic world isconstantly reinventing itself, is moving forward, one aspect seems to be stuck stubbornly in the20th century. So when we carried out international relations, the management of globalinterdependence actually is a relic of the cold war, as I mentioned, which emerged after 1945. //At the most recent U. N. General Assembly, the existing constitutions with U. N. at its core, wasasked for examination. In its address to the General Assembly, the Secretary General of U. N. ,Kofi A. Annan urged and I quote, "We must not shun away from questions about adequacy andeffectiveness of the world and installments at our disposal. "//To manage global interdependence,we need to foster a U. N. family, including separate world organizations capable of dealing withchallenges of a fast changing world. And Im very happy to see that Secretary General Kofi A.Annan has nominated a panel of experts to look at this reform of the U.N. system. But its notonly the U. N. In the last years, the G8, formerly the G7, a globing set of comprising major so-called industrialized countries has assumed a leadership in managing global affairs. //But the G8actually face to reflect the realities of the games of the 21st century. At the very least, Chinashould be part of the globe, no matter how you assess China in terms of its economic slacks, or itstechnological leadership, or its sheer size of the population it represents. China is not onlycompatible to the G8 members, but in most cases, increasingly superior to most of the G8members. Indeed, 6 of the G8 members have not yet sent a person to space. //When we lookedat the G8 in addition to China, in an attempt to create a better balance and to have a betterrepresentation, we should integrate the leading economic powers in other parts of the world, suchas South Asia, Latin America and Africa. So we may add in China, India, Brazil and one Africancountry to create the G12, which will be much more representative, compared to the present GS. //Such a group should also include U. N. Secretary General and the heads of the relevant multilateralorganizations, not just as guests as it happened until now, but also as full-fledged partners toprovide the group with real global credibility and legitimacy.
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