A new world´s order


                                                            1




                    Obama:

Can a ...
A new world´s order


                                                                                                  2
...
A new world´s order

The following paper will examine a new president in the White House with great
                      ...
A new world´s order

and media, his open-minded and humble attitude confirmed the White House´s new
                      ...
A new world´s order

days after the London Summit took place, was too soon to assume that these countries
                ...
A new world´s order

to stand up and speak; courage is also what it takes to sit down and listen”. Although
              ...
A new world´s order

effective body," said Kenneth Roth, executive director of Human Rights Watch
                        ...
A new world´s order

has assured safety in his country with important sanitary precautions, emphasized in
                ...
A new world´s order

He ensures a total reform of the United States´ foreign aid system, with a special
                  ...
A new world´s order

                                      References
                                                    ...
A new world´s order

The White House- Press Office (Tuesday, February 24th, 2009 at 9:01 pm). Remarks of
                 ...
Upcoming SlideShare
Loading in …5
×

Obama, can a nation´s leader guide a new world´s order?

775 views

Published on

This is a research essay that was made in order to apply for a scholarship at The European Business School of London EBSL on May of 2009.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
775
On SlideShare
0
From Embeds
0
Number of Embeds
9
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Obama, can a nation´s leader guide a new world´s order?

  1. 1. A new world´s order 1 Obama: Can a nation´s leader guide a new world´s order? Myriam M. Sanchez The EBSL International Scholarship May 18, 2009
  2. 2. A new world´s order 2 Obama: Can a nation´s leader guide a new world´s order? We have been witnesses and victims of a domino effect that has reached every economy in the world. We have been living what was a consequence of a series of accumulated mediocre regulations in finances and irresponsible measures. United States´ interest rates got higher; as a result it was more difficult to get credit and stock market collapsed. In 2007, “banks announced $60bn worth of losses as many of the mortgage bonds backed by sub-prime mortgages have fallen in value”1 and this year “HSBC faces a meltdown at its US credit card operations where around $50bn (£34bn) has been lent to people with poor credit histories, say analysts”.2 The subprime crisis “a 2007 financial crisis that started in the United States of America from the high number of defaulting borrowers with subprime mortgages”3 brought serious repercussions to banks and financial markets around the world, it´s dramatic rise took place during the George W. Bush administration and its long-term economic, political and social impacts as well as possible solutions have been a priority since, for countries around the globe. January 20th of 2009 became a milestone, for the first time in the history of the United States an afro-American candidate took Washington´s presidency, his name became a brand, his followers call him Obama. 1 BBC News (2009). The downturn in facts and figures. Retrieved May 17, 2009 from http://news.bbc.co.uk/2/hi/business/7073131.stm 2 Washman, Richard. Guardian News and Media Limited/the observer (2009). Retrieved May 17, 2009 from http://www.guardian.co.uk/money/2009/apr/12/hsbc-credit-cards-us-business 3 Woopidoo Business Glossary. Subprime mortgage crisis. Retrieved May 18, 2009 from http://www.woopidoo.com/glossary/subprime-crisis/index.htm
  3. 3. A new world´s order The following paper will examine a new president in the White House with great 3 popularity and support from a global public and his capacity to confront the crisis´ repercussions, in an attempt to answer if this nation´s leader can guide a new world´s order. Leaders of every nation are concerned of the weakness and failures the actual economic structure has shown since past years. It is not possible to continue in such risky way and expect an invisible hand to arrange the results. The London Summit of 2009 took place recently and the different representatives of the G20 (a new mechanism for informal dialogue in the framework of the Bretton Woods institutional system, to broaden the dialogue on key economic and financial policy issues among systemically significant economies and to promote cooperation to achieve stable and sustainable world growth that benefits all)4, were reunited to discuss which measures could be adopted, in order to confront the economic crisis. “This is the day that the world came together, to fight back against the global recession. Not with words but a plan for global recovery and for reform and with a clear timetable,” British Prime Minister Gordon Brown said at the end of the London Summit of G20 countries on 2 April.5 President Obama´s arrival was synonym of hope, of change, this time there was a dialogue and cooperation warranty. He was very well received by the English public 4 Kirton, John. University of Toronto. What is G20? Retrieved May 20, 2009 from http://www.g8.utoronto.ca/g20/g20whatisit.html 5 The London Summit (2009) - Global Update. United Kingdom. Retrieved May 18, 2009 from http://www.londonsummit.gov.uk/en/global-update/cp-uk/
  4. 4. A new world´s order and media, his open-minded and humble attitude confirmed the White House´s new 4 policy pattern. The London Summit painted the new economic order´s road and concluded that global equity markets were the first bricks of the pathway. Protectionism was the judged practice along with tax havens, unity was the keyword, this reunion contained tougher than expected measures to tighten financial regulation and presented to the global community more than one alternative, an important call for compromise by Barack Obama. But not everything has been the fulfilling of promises, according to ´eurodad´ (the European network on debt and development), the finance ministers that assisted to the Washington´s meeting to follow a continuation of the London Summit´s agreements, there has been very little progress: Finance Ministers managed to do little more than restate the London commitments. Impoverished countries don't know yet on how much they will count and the extent to which the IMF will grant this finance at reasonable terms and avoid making past mistakes…To obtain more, poor countries would have to borrow at market interest rates, which are presently very low, but may rise in the near future and trap them into new spirals of unsustainable debt.6 We are aware this financial crisis has hit the richest countries hardest and poorest ones are not the exception, this is a call for a new global outline of financial regulation and the task is not as simple as it sounds, it is a very complex process and twenty-five 6 eurodad (2009). Finance ministers in Washington fail to deliver on G20 promises. Retrieved May 18, 2009 from http://www.eurodad.org/whatsnew/articles.aspx?id=3008&item=3603
  5. 5. A new world´s order days after the London Summit took place, was too soon to assume that these countries 5 have already completed and studied a proportioned anti-crisis plan to know in detail how much they need to borrow, for example. In fact, this Summit included two important Latin-American countries, Brazil and Mexico that had a very important participation as developing countries and represented the region. Any new agreement would have to reshape the institutions created to regulate the international monetary and financial order in the past, cooperate with impoverished countries and encourage developing economies and such changes are not likely to be either quick or easy. For the United States, Mr. Obama has determined a very complex agenda; it embraces several reforms in the most important aspects going from health care, passing through education, energy, ending with war in Iraq and Guantanamo´s closure. Moreover he presented arguments of the best way to manage the crisis in the United States, as he insisted on investing, practice that with lead to an economic recovery. “the only way to fully restore America’s economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world.”7 With a true commitment expressed by Barack Obama and the fact that he admitted his country was responsible for the current crisis, we now know we are walking in the right road, remembering what Winston Churchill once said: “Courage is what it takes 7 The White House- Press Office (Tuesday, February 24th, 2009 at 9:01 pm). Remarks of President Barack Obama -- Address to Joint Session of Congress. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/remarks-of-president-barack-obama-address-to-joint- session-of-congress/
  6. 6. A new world´s order to stand up and speak; courage is also what it takes to sit down and listen”. Although 6 President Obama has had a difficult start, he is serving the country the best way he can. Our nations have known difficult times together. But ours is a bond forged by shared bloodshed, and countless friendships among our people. We Americans have offered our most precious resource- our young men and women – to work with you to rebuild what was destroyed by despotism.8 In the same way, President Obama is also marking a new politic openness with those countries the Bush administration failed in cases like Iraq were a war occurred or Cuba´s seizure continuation, and making this the essential part of his strategy. Whether it is with the Latin-American region, Middle East or Asia he understands the importance of working close to allies building new bonds of friendship and partnership because, that is how America can recover his genuine leadership and that new chapter has begun. Rebuilding alliances and helping the United Nations Human Rights´ Council improve its credibility have been some essential actions in this government, “The United States can make an important contribution making the [U.N. Human Rights] Council a more 8 The White House- Press Office (Friday, February 27th, 2009 at 12:42 pm). Remarks of President Barack Obama – Responsibly Ending the War in Iraq. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/Remarks-of-President-Barack-Obama-Responsibly- Ending-the-War-in-Iraq/
  7. 7. A new world´s order effective body," said Kenneth Roth, executive director of Human Rights Watch 7 9 (HRW).” Likewise he is conscious that the United States of America has been acting in the world´s scenario without a determined objective in its national interest as he declared in his speech “We have learned that America must go to war with clearly defined goals… We have learned that we must always weigh the costs of action, and communicate those costs candidly to the American people…”10 America needs a new realism in its foreign policy to face the world, a call to act with ethics, moral principles and follow the nation´s interests altogether. Therefore find a common ground were its own interests can be placed with the interests of others to restore its reputation, for that crusade to begin, History has chosen Barack Obama. Equally important has been health these days, nearly 100 days since the President took charge of the White House, a new emergency of public concern appeared. Swine Flu (AH1N1 influenza caused by those strains of influenza virus, called swine influenza virus (SIV), that usually infect (is endemic in) pigs…This strain can be transmitted from human to human, and causes the normal symptoms of influenza)11, attacked people in Mexico and the US at first, spreading later to the rest of the countries. Barack Obama 9 Rizvi, Haider, Global Policy Forum (April 2, 2009). In Reversal, US to Engage With Human Rights Council. Retrieved May 18, 2009 from http://www.globalpolicy.org/index.php?option=com_content&view=article&id=32501&c atid=228 10 The White House- Press Office (Friday, February 27th, 2009 at 12:42 pm). Remarks of President Barack Obama – Responsibly Ending the War in Iraq. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/Remarks-of-President-Barack-Obama-Responsibly- Ending-the-War-in-Iraq/ 11 Wikipedia, the free encyclopedia (2009), Swine Influenza. Retrieved May 18, 2009 from http://en.wikipedia.org/wiki/Swine_influenza
  8. 8. A new world´s order has assured safety in his country with important sanitary precautions, emphasized in 8 the need of science improvement and at the same time expressed his solidarity with affected nations. He is the kind of leader that prefers to focus on development and progress instead of expectations, fears and threats; he is a leader of facts, not of words. Obama´s popularity and acceptance from a large number of people around the world has been a fact since the beginning. A BBC World Poll suggested, World wanted him as president, “Mr. Obama was favored by a four-to-one margin across the 22,500 people polled in 22 countries.”12 He has been characterized for being surrounded by a large group of experts, a big percentage of them Latin-Americans, demonstrating his knowledge that today´s globalization era and multipolar world can only be studied by statesmen whom understand diverse cultures´ aches. On the whole, President Obama´s comprehension skills in hemispherical issues have gone far beyond: My job – our job – is to solve the problem. Our job is to govern with a sense of responsibility… History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas. 13 12 BBC News (2009), Obama win preferred in world poll. Retrieved May 18, 2009 from http://news.bbc.co.uk/2/hi/americas/7606100.stm 13 The White House- Press Office (Tuesday, February 24th, 2009 at 9:01 pm). Remarks of President Barack Obama -- Address to Joint Session of Congress. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/remarks-of-president-barack-obama-address-to-joint- session-of-congress/
  9. 9. A new world´s order He ensures a total reform of the United States´ foreign aid system, with a special 9 emphasis on increasing the quality of aid, as well as the quantity. We have seen his concern for climate change, health care and peace maintenance. “I´m asking you to believe. Not just in my ability to bring about real change in Washington...I´m asking you to believe in yours." -Barack Obama We now live in an interdependent world that lacks of barriers, were cultural encounters take place often, that possesses an instant communication platform, and were the pursuit of peace, environmental health, and economic stability are common goals. This new president will have to work hard so the government takes a more important roll regulating the economy; next, will have to win the sympathy and support of the republican part of the Congress to take more steps forward in his agenda; later, help with Iraq´s development and progress, remove the combat brigades and establish a permanent diplomacy seeking a lasting relationship of common interests; after, focus in Al-Qaeda and stop their influence in Afghanistan and Pakistan to assure United States security; finally, he will have to apply an intense diplomacy with Iran in order to avoid the development of nuclear weapons and be the mediator between Israel and the Arab world to take the war to its end. A new hope emerged, a return to moral principles; its time to build a bond that proclaims unity in diversity and let this nation´s leader help in the guidance of a new world´s order.
  10. 10. A new world´s order References 10 BBC News (2009), Obama win preferred in world poll. Retrieved May 18, 2009 from http://news.bbc.co.uk/2/hi/americas/7606100.stm BBC News (2009). The downturn in facts and figures. Retrieved May 17, 2009 from http://news.bbc.co.uk/2/hi/business/7073131.stm eurodad (2009). Finance ministers in Washington fail to deliver on G20 promises. Retrieved May 18, 2009 from http://www.eurodad.org/whatsnew/articles.aspx?id=3008&item=3603 Kirton, John. University of Toronto. What is G20? Retrieved May 20, 2009 from http://www.g8.utoronto.ca/g20/g20whatisit.html Rizvi, Haider, Global Policy Forum (April 2, 2009). In Reversal, US to Engage With Human Rights Council. Retrieved May 18, 2009 from http://www.globalpolicy.org/index.php?option=com_content&view=article&a mp;id=32501&catid=228 The London Summit (2009) - Global Update. United Kingdom. Retrieved May 18, 2009 from http://www.londonsummit.gov.uk/en/global-update/cp-uk/
  11. 11. A new world´s order The White House- Press Office (Tuesday, February 24th, 2009 at 9:01 pm). Remarks of 11 President Barack Obama -- Address to Joint Session of Congress. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/remarks-of-president- barack-obama-address-to-joint-session-of-congress/ The White House- Press Office (Friday, February 27th, 2009 at 12:42 pm). Remarks of President Barack Obama – Responsibly Ending the War in Iraq. Retrieved May 13, 2009 from http://www.whitehouse.gov/the_press_office/Remarks-of-President- Barack-Obama-Responsibly-Ending-the-War-in-Iraq/ Washman, Richard. Guardian News and Media Limited/the observer (2009). Retrieved May 17, 2009 from http://www.guardian.co.uk/money/2009/apr/12/hsbc-credit- cards-us-business Wikipedia, the free encyclopedia (2009), Swine Influenza. Retrieved May 18, 2009 from http://en.wikipedia.org/wiki/Swine_influenza Woopidoo Business Glossary. Subprime mortgage crisis. Retrieved May 18, 2009 from http://www.woopidoo.com/glossary/subprime-crisis/index.htm

×