The G20 needs strategic leadership

After the GFC, a question mark hangs over the value of the G20 and its contribution to global economic governance. The institution's biggest challenge will be to sustain a sense of strategic direction.

The leaders-level G20 was born at a time of crisis and panic. In early October 2008, when the United States issued the invitation to the G20 heads of state or government to assemble in Washington DC on November 15, the world economy was facing the danger of a total collapse of the financial sector in the United States. Panic is contagious. A financial sector collapse in the largest economy and the financial centre of the world would have brought down with it the entire global economy.


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