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| Purestock/Thinkstock |
Can the
G20 do it:
Save the world?
The Group of Seven, formed in the 1970s by the world's leading countries
in response to the energy and economic crises of the time, played
a positive role in coordinating global economic policies. But
the influence of the organization began to decline in the late 1990s —
coincidentally, about the same time Russia joined the organization
in 1997. The G8 turned into a series of PR events devoid of any real
substance.
Much more hope is vested in the G20 as a body capable of filling
the global-governance vacuum. This organization includes 19 countries,
not all of which are the world's mightiest economically, plus
the European Union.
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