Friday, December 31, 2010
G20 Replaces G7/G2-VIII
In the G20 (Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK, and USA) Summit at Pittsburgh (24-25 September 2009), the 20 largest economies’ leaders finally made one crucial decision – replacing G7, the anachronistic system. More than four months ago, my blog (“G7 Is Died/G2-IV,” posting date: 12 May 2009) stated clearly that the function of G7 is finished. The decision in Pittsburgh made the Japanese government mad because Japan will not be shinning anymore in the Western executive club. In particular, China will play the crucial role in G20 meeting. Besides Japan, Spain and Holland are not happy since both countries will be left out from G20 meeting, too.