Next week's Group of Eight summit should focus on the threat to global prosperity from economic imbalances rather than Africa and climate change, David Dodge, the governor of Canada's central bank, said on Tuesday.
The rising economies of China, India and Brazil meant the G8 was no longer the right forum to deal with big economic issues, Mr Dodge added. He called for a new institution, expanded to include these countries and South Africa. “The [G8] summit should be focusing on the issue of how in the medium-term we are going to address global imbalances and how we will work with systemically important players in other parts of the world to deal with this issue.”
