Germany’s G-8 Presidency occurs in a formative period for German foreign economic policy. It is about to step out of the post-Cold War order, but has not yet found a comprehensive strategy for global engagement. Hitherto Germany has had a flexible approach to its G-8 Presidency and neglected to form a decisive agenda that fits the G-8 structure of a limited membership.
Furthermore, Germany has not been inclined to use its Presidency to link its foreign economic policy to a domestic reform agenda. Its tradition of Ordnungspolitik – the yin of domestic economic policy and the yang of foreign economic policy – has been lost, but Germany is again in a position to demonstrate the vigour of a comprehensive economic policy that binds together foreign and domestic economic policy.
Germany has an opportunity to use its G-8 Presidency to revive the Doha Round and to demonstrate a new German role in global economic policy that corresponds with its position as a top-league trading nation.