The Unwinding Of The G-8 Consensus

Expert: Joseph Trevisani, Chief Market Analyst at FX Solutions
Moderator: Maud Gilson

Summary:
China and the G-8 Or What to do When Your Banker Says No

The origin of the Group of Eight was an invitation from French President Valery Giscard d’Estaing in 1975 to six of the major World War Two combatants to meet at Rambouillet in France. Leaders from West Germany, Great Britain, Italy, the United States, Japan and France attended that first meeting. The impetus to the summit, if not the sole topic, was the first post war economic challenge to the west, the 1973 OPEC oil embargo. In 1976 Canada was invited to join and the group stayed at seven until 1997 when Russia formally became a member.

Why relate this history? The nations of the Second World War consensus that have dominated the world for 60 years are close to bankrupt. Their bankers are now calling the shots; those who pay get to decide the future.

Webinar presented by FX Solutions and FXstreet.com