On November 11-12, heads of state and government of the Group of Twenty (G-20) will meet for the fifth time since they started convening two years ago to deal with the global financial crisis and the ongoing recovery. This time around, G-20 leaders will meet in Seoul, Korea. It will be the first time that a non-G8 and newly-industrialized country hosts a G-20 summit, demonstrating the increased representation of new political and economic actors in international policy coordination and global governance.
Yet, the recent policy debates and media reports have focused on concerns over impending currency wars in the form of competitive devaluations and unilateral policies. Many of these debates and reports seemed to cast pessimism and cynicism over the G-20’s ability to effectively pursue international policy coordination and economic cooperation. However, the recent agreements made by G-20 finance ministers during their late-October meeting in Gyeongju seem to have brought back some optimism and hope for progress. Nevertheless, it still remains to be seen how the outcomes of the upcoming Seoul Summit will impact the future of the G-20 to effectively continue as the “premier forum for international economic cooperation.”
Joining the debate on the challenges and expectations for the G-20 Seoul Summit, experts from the Brookings Global Economy and Development program explore a range of critical issues and offer policy recommendations for G-20 leaders to consider in order to strengthen the global economic recovery.