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G20 takes over global stewardship

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G20 takes over global stewardship

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Another sign we are firmly in a new world now with the announcement in Pittsburg that the old G8 is more or less dead; the G20 will from now on be the world’s leading economic forum, representing as its members do 90 percent of the world’s output.

It brings nations like Indonesia, Mexico, South Korea and Saudi Arabia to the top table of decision-makers alongside the great 19th century powers of Europe and the 20th century ones of America and Russia. It represents the growing influence and importance of nations emerging from the developing world.