G20 the New G7
Editorial, China View | October 14, 2008
G20 nations represent 85 percent of the world's economy. ++ The forum is essential for addressing the financial meltdown. ++ Developed nations urgently need liquidity; the vast reserves of foreign capital held by emerging economies are the remedy. ++ Bush's first appearance at the G20 highlights this very fact. ++ "It's of all nations' common interest to take coordinated measures to tackle the paramount challenge" and in doing so, the G20 called for greater communication while endorsing the G7's five-point action plan.
