Are we Moving from G20 to G-Zero?
The G20 Summit in France wrapped up over the weekend. And while the European financial crisis dominated the talks, larger issues prevail. Read more news coverage.
Nouriel Roubini, co-founder and chairman of Roubini Global Economics and professor at New York University's Stern School of Business, spoke this summer at Aspen Ideas about the crippled G20. "We are in a world that has officially moved from G7 to a G20 world," says Roubini. "But the way I describe it is a G-Zero world, because on all these issues — monetary and fiscal policy, exchange rates, energy and food security, global climate change, and trade — there are more disagreements, more conflicts. There is no cooperation, and we need that cooperation to deal with these global problems."
Read Roubini's recent editorial on the Instability of Inequality.