Tag Archives: G20

Leadership Need Not Come Only from the G7: The G20 Meeting in Korea

Korea may have an opportunity to exercise historic leadership, when it chairs the G-20 meeting in Seoul, November 11-12. This will be the first time that a non-G-7 country has hosted the G-20 since the larger, more inclusive, group supplanted the smaller rich-country group in April of last year as the premier steering committee for the world economy. With large emerging market and developing countries playing such expanded economic roles, the G-7 had lost legitimacy. It was high time to make the membership more representative. But there is also a danger that the G-20 will now prove too unwieldy, in which case decision-making might then revert to the smaller group. read more

Trying to Hit Ambitious Global Greenhouse Gas Goals, While Obeying Political Constraints

National leaders are meeting at the United Nations in New York today, to discuss the climate change negotiations. Talks will continue at the G-20 meeting in Pittsburgh later in the week. But hopes look very bleak for progress sufficient to produce at Copenhagen in December a successor treaty to the Kyoto Protocol. The biggest roadblock is the familiar game of “After you, Alphonse.” The United States will not accept quantitative emission targets unless China, India and other developing countries do the same, at the same time. But the developing countries will not cut their emissions below the Business as Usual path (BAU) unless the rich countries go first. read more

What’s “Hot” and What’s Not, in International Money

The field of International Monetary Economics is not without its own cycles and fads.

In a speech at the European Central Bank over the summer, “On Global Currencies,” I identified eight concepts that I saw as having recently “peaked” and eight more that I saw as newly rising in relevance. Those that I viewed as losing traction were: the G-7, global savings glut, corners hypothesis, proliferating currency unions, inflation targeting (narrowly defined), exorbitant privilege, Bretton Woods II, and currency manipulation. Those that I saw as receiving increased emphasis now and in the future were: the G-20, the IMF, SDR, credit cycle, reserves, intermediate exchange rate regimes, commodity currencies, and multiple international currency system. read more

Jeffrey Frankel's Blog

Views on the Economy and the World

Tag Archives: G20

Leadership Need Not Come Only from the G7: The G20 Meeting in Korea

Trying to Hit Ambitious Global Greenhouse Gas Goals, While Obeying Political Constraints

What’s “Hot” and What’s Not, in International Money