A Group in Search of a Mission
The Group of 20, which brings together countries that account for more than 80 percent of world economic activity, was born in the global financial crisis of 2008. By reaching across the divide between developed and developing countries it created a forum more consistent with the pattern of international relations in the 21st century, and by limiting attendance to a smaller number than the other global multilateral bodies, it sought to escape from the unwieldy inertia of their decision-making processes.
At its early meetings the G-20 did good work. It helped to calm the panic that had swept financial markets following the collapse of Lehman Brothers; it identified some of the remedies needed to avoid repeating the mistakes that had led to the crisis; and it showed that the interdependence of the world could be matched by common purpose and effort.… Seguir leyendo »