Forbes published CGD senior fellow Arvind Subramanian's op-ed on cooperation between rich countries and emerging markets at the G20.
From the article:
"Their motives may be in part a mixture of the expedient (Europe) and the desperate (the lame duck U.S. administration). But there is no denying that the existing powers--Europe and the United States--are the instigators of the Bretton Woods II process that aims to rewrite the rules of the international economic system. How should the new powers, the emerging market countries, respond?
There is enough commonality of interests between the existing and new powers for all participants to desist from finger-wagging and playing the blame game, and to agree to do their utmost to avert a downturn in the global economy. Individually and collectively, they could also agree to provide macroeconomic stimuluses to shore up their economies."
Read the article
