A New Era in Global Economic Governance
Queen Mary University of London - School of Law; World Trade Institute, University of Bern
July 10, 2009
International Security Forum, 2009
In the midst of the most serious global economic crisis since the Great Depression, it seems pertinent to reform the current system of global economic governance. There is a widely shared assumption that a new Group of 20 nations (G-20), represented by their Finance Ministers and Central Bank Governors, may succeed the Group of 7 (G-7) in re-shaping the future of the global economic architecture. This paper addresses the importance of re-shaping the pillars of global economic governance, provides an analysis of the G-20 as the forum for such an initiative, acknowledges multipolarity and the rise of regionalism as the new global reality, and notes the lack of coordination between multilateral and regional mechanisms of economic governance.
Number of Pages in PDF File: 9
Keywords: global economic governance, G-20, G-7, multipolarity, rise of regionalism
JEL Classification: E58, F02, F33, K33Accepted Paper Series
Date posted: July 14, 2009
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