For the G20 – Let’s return to the original idea
When the finance ministers of the G7 countries proposed the G20 in the late 1990s, a good sense of realism prevailed. They recognized that addressing issues of global finance required the political support from—and involvement of—emerging market economies. This view proved prescient in seeking policy responses to the 2007–08 global financial crisis. The leaders of the G20 met at their first summit in Washington D.C. in 2008 to agree on measures to resolve the crisis through dialogues among the “systemically relevant” countries.
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