Minimum Target for the G20: Do No Harm
C. Fred Bergsten, Peterson Institute | November 12, 2008
The G20-meeting may harm the economy if conflicts surface and the US is blamed for the crisis. ++ The IMF lacks legitimacy due to an under-representation of Asian powers and over-representation of Europeans. ++ Obama must agree to the results of the summit, even with a lame-duck Bush as host, or markets risk destabilization. ++ Leadership is needed from Europeans who called for the meeting. ++ The best result would be stimulus packets to support domestic demand. ++ The meeting may transform global economic power.
