Global Economics Monthly: On Balance, G-20 Still has a Vital Role
August 27, 2013
The events in Syria and cancellation of President Obama’s trip to Moscow have overshadowed important business early next month in another Russian city: St. Petersburg, where heads of state and government from around the world will gather on September 5 for the annual G-20 summit. While the forum has lost some of the drama of five years ago, when leaders first came together to support a global economy in free-fall, cooperation among G-20 nations remains essential to creating the “strong, sustainable, and balanced growth” leaders promised at Pittsburgh in 2009. Far from that ideal, global growth today remains weak, uncertain, and uneven. The challenge for leaders at St. Petersburg is to pull together again to continue the hard work of strengthening and rebalancing growth over the medium term.