The Economic Crisis Of The G20 - 2112 Words

The economic crisis has brought about a transformation in international organization, signaling a break with the established system of foundation for managing world liaison. While at the first of the crisis, measures taken appeared ad hoc or temporary, the decision at the Pittsburgh Elevation in September 20 09 to institutionalize the Chemical group of 20 leaders ’ summit reflects a marked shift in the locus of leadership. New players, new meeting place and new issues have moved to the center of global decision-making. Over the course of its first class, the G20 has delivered in response to global economic challenges, at least in a declaratory fashion. However, as we move towards a billet crisis environment, the G20’s follow-on year will bring new challenges. In the lead-up to the two 2010 top Toronto in June and Seoul in November the G20 will need to rise its role beyond the immediacy of crisis response, and propel the common sense of collective enterprisingness into s olidified venture moving forward. This paper provides a framework of analysis from a liberal theory perspective and sets out proposals regarding the G20’s place in the evolving international governance design. Through its dual world — first as a forum of ministers and then as a leaders’ summit the G20 has shown itself capable of robust natural action. Rather than sticking to a set convention, when the global financial impact hit, the G20 effectively re-invented itself. This process has effectively realignedShow MoreRelatedGlobal Financial Crisis : The Fall Of Lehman Brothers1250 Words   |  5 Pages Global banks indeed play crucial roles in keeping the global economic growth in track. 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