WASHINGTON – In preparing to host the November 11-12 G20 Summit in Seoul, the South Korean government has worked to win support for a “global financial safety net,” a rapid response to future global economic crises. Part of Seoul’s vision is greater cooperation in the face of crises between the International Monetary Fund, regional pools [...]

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G20’s commitment on Sunday to halve government deficits by 2013 and “stabilize” debt loads by 2016 is not international cooperation, but a statement that describes national policies already in place. Entailing that all countries can adopt the policies they want to adopt, the communiqué struck a balance between thrifty and spendthrift nations, respectively spearheaded by [...]

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The G20’s flagship commitments in Sunday’s Toronto Summit are but a reflection of ongoing domestic politics in the leading economies. There are five main outcomes: 1. Fiscal Policy Status Quo Affirmed G20’s commitment to halve government deficits by 2013 and “stabilize” debt loads by 2016 is not international cooperation, but a statement that describes national [...]

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BUCHAREST—World leaders continue to search for solutions to the global recession, as we witnessed during the just-concluded G-20 summit in Toronto—a forum representing the full spectrum of regime types, and one that has effectively replaced the G-7 group of industrialized democracies as the international high table. Rescuing the global economy is imperative. But it is [...]

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This week’s G20 summit in Canada is the first leaders’ meeting since the start of the global economic recovery. While a favorable summit outcome could strengthen market confidence, world leaders continue to face several daunting challenges. In particular, three areas—addressing global imbalances, coordinating financial regulation, and combating protectionism—remain politically thorny. Global imbalances have exacerbated frailties [...]

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