Sunday, September 27, 2009

The G-8 is dead. Long live the G-20.



We can no longer meet the challenges of the 21st century economy with 20th century approaches.

--Barack Obama




With those words, Obama helped bury the G-8 group of developed nations, which did increasingly look like a relic from an earlier era. (This transformation seemed underway when the G-20 had its last summit). The G-8 was seven (largely) white nations, plus Japan. The G-20 includes China, India, Brazil, and eight other non-European nations.

The G-20, not perfect, nevertheless provides a potential forum for real action on major foreign policy problems, at least until we get the UN Security Council right.

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