The G20 is not Just a G7 with Extra Chairs
In the wake of the global crisis the G20 has largely substituted the G7 as the key forum for international economic cooperation. However, G7 and non-G7 members of the G20 come to G20 meetings with different priorities. Developed countries have taken a direct hit on their banking and financial systems as a result of the crisis and they accordingly give priority to strengthening financial regulation and supervision. Emerging economies have been primarily affected by the collapse of trade and (mostly in emerging Europe) the outflow of capital. Their priority is thus to ward off the reemergence of protectionism in trade and finance. As newcomers, the emerging countries are also focused on the distribution of power and they adamantly claim that they need more say in international institutions. So far, the G20 agenda has been dominated by the management of the global turmoil, the provision of financial resources to countries in crisis, and the rebuilding of financial regulation –a rather G7-like agenda. Meanwhile, it has been silent on the issue of global imbalances, where it could have made a difference. In the future, the G20's agenda will have to evolve and better reflect the variety of concerns of its members.
Volume (Year): (2009)
Issue (Month): 292 ()
|Contact details of provider:|| Postal: 113, rue de Grenelle, 75700 Paris SP07|
Phone: 33 01 53 68 55 00
Fax: 33 01 53 68 55 01
Web page: http://www.cepii.fr
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:cii:cepill:2009-292. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.