Global Economic Governance – the Management of the World Economy a Year after the G-8 Summit at Heiligendamm

A conference on "Global Economic Governance - the Management of the World Economy a Year after the G-8 Summit at Heiligendamm" took place on 11/12 July 2008, chaired by Saskia Hieber and Wolfgang Quaisser. The conference was a post-Summit re-opening of the discussion of a better management of the world economy and, after having presented an overview of the globalisation of financial markets and world trade, explored options for global economic developments by the world community. In the foreground of the analysis were the chances and risks of international commercial and capital movements, their effects on national societies and strategies for a more efficient but also more legitimate management by international organisations. These questions were examined and discussed by experts from academics, politics and business. In introducing the topic, Stefan A Schirm, Bochum University, underscored the necessity, in the analysis of the global economic governance debate, to examine the actors involved and their particular motives. Martin Hüfner, HF Economics Ltd., analysed the opportunities and risks of global financial markets. Karlhans Sauernheimer, University of Mainz, looked at the dangers and chances from a liberalisation of world trade. Alexander Lau, of the Federation of German Chambers of Industry and Commerce (DIHT), looked at the success of German enterprises abroad and argued that Germany as an industrial location profits from the increasing foreign commitment of German enterprises. Isabella Timm-Guri, Bavarian Farmers' Association, examined the effects of trade liberalisation on European agriculture and its interests in the design of international trading rules. Stormy Mildner, German Institute for International and Security Affairs (SWP), looked at the reasons for the failure of the Doha Round, from her perspective. And Laura Carsten, Bochum University, analyzed the influence of the newly industrialised countries on the IMF and the WTO.