Authors: Mahendra Siregar and Tuti Irman, Republic of Indonesia

The unprecedented level of policy coordination by G20 countries in response to the global financial and economic crisis in 2008 was instrumental in preventing the worst economic downturn since the 1930s. It is still too early to say that the crisis is over, but at least we can safely say that it could have been much worse if the G20 had not acted swiftly. This success was the most important reason why the Summit of Heads of State or Government in Pittsburgh decided that from then on the G20 would be the premier forum for international economic cooperation—an historic decision from the perspective of global governance as well as the role of Asia in the global economy.

Does the G20 offer a new approach to global governance? Read more…