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Reuters: Asian, African nations challenge 'obsolete' world order

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(Reuters) - Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past.

Their calls came at the opening of a meeting of Asian and African nations in Jakarta to mark the 60th anniversary of a conference that made a developing-world stand against colonialism and led to the Cold War era's non-aligned movement.

Among the leaders listening were Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping, who were expected to meet on the sidelines of the conference, the latest sign of a thaw in relations between the Asian rivals.

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NEW WORLD ORDER

Indonesian President Joko Widodo, the conference host, said those who still insisted that global economic problems could only be solved through the World Bank, International Monetary Fund and Asian Development Bank were clinging to "obsolete ideas".

"There needs to be change," he said. "It's imperative that we build a new international economic order that is open to new emerging economic powers."

The IMF and World Bank were at the center of the post-World War Two monetary order created by the United States and Europe at the Bretton Woods Conference in New Hampshire in 1944.

http://www.reuters.com/article/2015/04/22/us-asia-africa-idUSKBN0ND09820150422

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