Over the past decade, multilateralism has stuttered into gridlock as nations tried unsuccessfully to tackle global problems in areas ranging from trade to climate change. The G-20 has emerged as an effective forum for coordinating the international response to the global economic crisis by bringing together a select group of countries that have a large impact on the global economy.
Carnegie's Twenty Roundtable provides senior Washington representatives of the G-20 nations with a forum for discussing key economic and political issues confronting their countries as they deal with the global financial crisis. The inaugural meeting focused on the future of multilateralism.
Efficacy vs. Legitimacy
The success of the G-20 raises questions about the trade-off between efficacy and legitimacy:
A Crowded Landscape of International Organizations
Overlapping missions and competition for limited resources among the increasing number of international organizations has generated global inefficiencies:
The greatest fundamental challenge facing international cooperation is the requirement that countries cede some sovereignty to agreed-upon international standards.
The Carnegie International Economics Program monitors and analyzes short- and long-term trends in the global economy, including macroeconomic developments, trade, commodities, and capital flows, drawing out their policy implications. The current focus of the program is the global financial crisis and its related policy issues. The program also examines the ramifications of the rising weight of developing countries in the global economy among other areas of research.
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