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The G-20 Summit at Five
Author: Kemal Dervis

ISBN: 9780815725916
Format: Paperback
Number Of Pages: 302
Published: 1 August 2014
Country of Publication: US
Dimensions (cm): 22.9 x 15.2 x 2.3
The first G20 Summit on Financial Markets and the World Economy was assembled in November 2008 as a direct response to the global financial crisis. Leaders of the world's twenty largest economies met in Washington, D.C. to discuss ways to blunt the effects of the crisis and to begin reforming the financial system to prevent similar crises in the future. The attendees feared that, with trade and financial sector links having grown ever stronger over previous decades and spanning all parts of the globe, a financial sector collapse in the United States could bring down the entire world economy. Most observers agree that decisive action by the U.S. Federal Reserve and Treasury, bolstered by the unified commitment of the G20 leaders, played a critical part in preventing a global economic free-fall. Five years after the inception of the leaders-level G20 summits, the key question is whether these annual gatherings still have anything to contribute to global economic governance. The next Summit, held this November in Brisbane, will be the first meeting where combatting an ongoing crisis no longer dominates the agenda. The absence of immediate crisis-like pressure could be an oppo...

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