China, the G20 and global economic governance

As China prepares to take over the G20 presidency in 2016, many are asking what it will do with its new-found power?

The G20 may no longer be under Australia’s custodianship, but the show still rolls on. The leaders’ forum will head to Turkey in 2015, and in his final act as G20 chair for 2014, the Australian Prime Minister Tony Abbott confirmed 2016 will see leaders’ heading for China. The announcement is timely, although the G20 designated itself in 2009 as the ‘premier forum for international economic cooperation’, 2016 will be the first year in which China, the world’s largest economy in terms of purchasing power parity, will bear responsibility for coordinating the process.

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