After World War II, the victorious West led creation of a liberal world order. But, little of the world was present at the creation.
Now, the world has changed. The founding nations have in many ways failed the world order and themselves.
The rising BRICS question the West’s governance of the world order. And they may be ready to exercise responsibility in that governance.
At the recent meeting of heads of state at Sanya, Hainan Island, PRC, the BRICS–Brazil, Russia, China, and India, plus the Union of South Africa–issued a joint communique that calls for an inclusive, accountable world order–not a new world order but the old world order reformed and managed in accordance with its founding principles.
It is too soon to tell whether or not the BRICS will be become a force in shaping and leading the world order.
But, that they considering these roles is important in itself. We should be aware of, and a part of efforts to salvage the liberal world order we helped create, mindful that most of the world’s wealth, economic growth and political authority already lies outside the shrinking West.
I recently addressed these issues in a speech at the ‘BRICS in 2020 Conference’ at the University of Chicago that can found here.
I look forward to your thoughts and opinions.
(read the full speech, BRICS and World Order, below)
Adlai E. Stevenson III is a former US Senator and Chairman of SC&M Investment Management Company.
Stevenson is a Marine Corps veteran of the Korean war, former Clerk to a Justice of the Illinois Supreme Court and former Partner in the law firm of Mayer, Brown. He served in the Illinois House of Representatives 1965 - >67, winning a ABest Legislator@ award from the Independent Voters of Illinois, and as Illinois State Treasurer, 1967->70, where he quadrupled y earnings on the investment of State funds while cutting the budget each year. In 1970, he was elected to the unexpired balance of deceased Senator Everett Dirksen=s term in the U.S. Senate and was re elected in 1974, both times by record breaking margins. He retired from the Senate in 1981. He was the Democratic candidate for Governor of Illinois in 1982 and 1986.
In the Senate Stevenson served on the Commerce Committee (Chairman of the Subcommittee on Science, Technology and Space), Banking Committee (Chairman of the Subcommittee on International Finance) and Intelligence Committee (Chairman, Subcommittee on the Collection and Production of Intelligence). He served as the first Chairman of the Senate Ethics Committee and Chairman of a Special Committee which led the first reorganization of the Senate since its Committee system was formed in the early 19th Century. He also served as the most junior member of the Senate Majority=s Policy Committee.
In the Senate, Stevenson co authored the energy legislation of the mid 1970's, including legislation to establish the Department of Energy, fuel efficiency standards, emergency natural gas pricing and projects for development of alternative energy sources. He authored the Stevenson Wydler Technology Innovation Act and companion Bayh Dole Act which spurred the cooperative research and the technological innovation which followed. He authored the International Banking Act and conducted the first Congressional in depth studies of terrorism, introducing the Comprehensive Anti Terrorism Act of 1979 with predictions of Aspectacular acts of destruction and disruption@ and an Aan international terrorist scene.@ An attempt to distance the US from the settlements policy of the new Likkud government of Israel led to his defeat in the 1982 election for Governor of Illinois. Though the election was virtually tied and evidence of widespread election irregularities, including a failed punch card system for recording votes, was presented to the Illinois Supreme Court, it denied his request for a recount by one vote. He was renominated by the Democratic Party for Governor in 1986, but candidates of the LaRouche cult were nominated for Lt. Governor and Secretary of State, forcing him to resign the nomination and run as a third Party candidate. He won 40% of the vote, thus ending his active political career.
Since living in London in 1945-6 where he attended Harrow School, Stevenson has traveled, worked and served in many capacities in more than 80 countries. His private sector career has focused on international matters, especially international finance and East Asia. He organized the HuaMei Capital Company, the first Sino US financial intermediary and remains a director. He is a past President of the US Committee of the Pacific Economic Cooperation Council, former Co Chairman of the East Asia Financial Markets Development Project, former President and Chairman of the Japan America Society of Chicago, former Chairman of the Midwest US Japan Association, a Member of the US Korea Wisemen Council, Member of the Advisory Board of the Korea Economic Institute, Member of the US Committee of the Council for Security Cooperation in the Asia Pacific and Chairman of the Midwest US China Association. He Chairs the Adlai Stevenson Center on Democracy and serves on the boards of other civic and business organizations.
Stevenson is the author of The Black Book which records American politics and history as his family knew it over five generation. Starting with Abraham Lincoln in central Illinois, it ends in China with an Epilogue on the life cycle of nations and empires. He seeks to recall the values which created his country and draw lessons for the future. Stevenson has lectured widely, authored numerous articles and is the recipient of many honors, including Japan=s Order of the Sacred Treasure with Gold and Silver Star. He is an Honorary Professor of Renmin University, Beijing, PRC.
Stevenson manages a farm near Galena, Illinois and maintains an office and home in Chicago. He is a graduate of Harvard College, >52 and Harvard Law School, >57. He and his wife, Nancy, have two sons, two daughters and five grandchildren.
I think Senator Stevenson is on to something that we should watch.
Reuters just reported that China, India, Brazil, and South Africa are calling for the changes at the IMF: ‘Emerging nations push for say on next IMF chief’
‘Emerging market countries challenged Europe’s grip on the leadership of the International Monetary Fund on Tuesday as pressure mounted for the fund’s jailed managing director Dominique Strauss-Kahn to quit.
‘The world’s fast-growing developing economies have lobbied aggressively for an overhaul at the IMF and have expressed growing frustration at being shut out of the process on who runs the global institution.’
Minor niggle, but “the Union of South Africa” is the pre-1961 name for the country. When the South Africa left the Commonwealth in protest at the Commonwealth’s opposition to white minority rule it changed its name to the Republic of South Africa, and this name was kept after the end of apartheid.
Malcolm Riddell is president of RiddellTseng, a boutique investment bank and advisory firm, advises leading international companies, especially in financial services and real estate, on business, investment and joint ventures in China, and on winning financing from Chinese investors and lenders.... Read MoreMalcolm Riddell's LinkedIn Profile
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RiddellTseng, a boutique investment bank and advisory firm, advises leading international companies, especially in financial services and real estate, on business, investment and joint ventures in China, and on winning financing from Chinese investors and lenders.... Read MoreRiddellTseng's LinkedIn Profile
I think Senator Stevenson is on to something that we should watch.
Reuters just reported that China, India, Brazil, and South Africa are calling for the changes at the IMF: ‘Emerging nations push for say on next IMF chief’
‘Emerging market countries challenged Europe’s grip on the leadership of the International Monetary Fund on Tuesday as pressure mounted for the fund’s jailed managing director Dominique Strauss-Kahn to quit.
‘The world’s fast-growing developing economies have lobbied aggressively for an overhaul at the IMF and have expressed growing frustration at being shut out of the process on who runs the global institution.’
Here the link: ‘Emerging nations push for say on next IMF chief’
http://www.reuters.com/article/2011/05/18/strausskahn-succession-idUSN1718743820110518
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Minor niggle, but “the Union of South Africa” is the pre-1961 name for the country. When the South Africa left the Commonwealth in protest at the Commonwealth’s opposition to white minority rule it changed its name to the Republic of South Africa, and this name was kept after the end of apartheid.
Thanks, FOARP! I’ll pass this along to the author. Best, Malcolm