PART I - World braces for crucial summit

PART II - Demand deficiency threatens world order
PART III - Streets heat up as world faces tough choices
PART IV - The 25 sentries take on the global turmoil
PART V  - Financial stability a must for healing

The Czech Republic’s "toppled" prime minister has condemned "the road to hell" that Washington calls stimulus and the chief of China’s central bank has proposed "ditching" the U.S. dollar as the world’s reserve currency.   Â

Meanwhile, how to "beat the crisis" is turning into a matter of hegemony. Western Europe and the United States have displayed wishes to "impose" solutions on each other. Just on Tuesday, U.S. Treasury Secretary Timothy Geithner said other countries should also overhaul their financial systems in the image of the U.S., otherwise "there is a risk that capital will move, business will shift from the United States."

It is now the developing countries that are warning the advanced ones against protectionism; a stark irony compared to a few years ago when developing countries were being pressured into "opening up markets." We have seen workers in Britain rallying with placards saying "British Jobs For British Workers," the U.S. Congress has pushed "Buy American" clauses into stimulus packages and Renault decided to close a factory in Eastern Europe to "protect French jobs."

The current form of global capitalism, unleashed by Ronald Reagan in the U.S. and Margaret Thatcher in the U.K., may indeed be at an end. But our series does not desire to indulge in such "big" issues. We seek to dwell on two "smaller" questions. Despite the mountains of taxpayer money spent, why have we not surmounted this crisis? Second, what kind of decisions should the G20 nations make at their April 2 summit?

Hürriyet Daily News & Economic Review has posed these questions to economists, analysts and academics from Turkey and the world. We hope this series will contribute to the wider debate that is to peak in London.

*Taylan Bilgiç is the managing editor of the Economic Review. Write him at taylan.bilgic@tdn.com.tr