Reshaping Global Economic Governance and the Role of Asia in the Group of Twenty (G20)
By: Asian Development Bank
This report, jointly prepared by ADB and the Peterson Institute for International Economics, aims to provide strategic guidance for emerging Asia's participation in the G20 and related discussion about reform of global economic governance. The recent global financial crisis underscored the fact that the spirit of cooperation is key to successful reform. Without tighter coordination between old and emerging powers, it will be hard to find lasting solutions to pressing global problems. The rise of emerging market economies heralds a new world order. Yet consolidating the new voices and soliciting a sense of ownership from them pose a real challenge. This report draws on important lessons from the crisis to offer policy recommendations in areas of imminent challenge confronting the leaders from both old and emerging powers
AI Overview
The book "Reshaping Global Economic Governance and the Role of Asia in the Group of Twenty (G20)" by the Asian Development Bank (ADB) is a comprehensive analysis of the evolving global economic governance landscape and the significant role Asia is expected to play within the G20 framework. Here is a detailed overview of the book:
Key Themes
Inclusive Global Governance: The book emphasizes the need for a more inclusive global economic governance system, reflecting the rise of new emerging economies. It highlights the shift from the G7 to the G20 as the premier forum for economic cooperation.
Sustainable Economic Growth: The report underscores the importance of making economic growth and development sustainable. It advocates for systemic management of the post-crisis economy to achieve sustained and balanced growth while safeguarding global financial stability.
Asia’s Leadership Role: The book positions Asia as a strong, robust economy well-positioned to assume its G20 responsibilities and lead in the global rebalancing process. It provides strategic guidance for Asian members of the G20 to forge a strong regional position on global issues.
Coordination between Traditional and Emerging Powers: The report stresses the need for tighter coordination between traditional and emerging economic powers to ensure effective global economic governance. This coordination is crucial for addressing regional development challenges and priorities.
Plot Summary
The book is structured to provide strategic insights into how Asia can contribute to sustained and balanced global economic growth. It outlines the strategic steps Asian members of the G20 can take to make a substantive contribution to global economic governance. The report is designed to help Asian nations navigate their roles within the G20 framework, ensuring that their development challenges and priorities are addressed effectively.
Critical Reception
While specific reviews of the book are not readily available, the Asian Development Bank is widely respected for its authoritative and comprehensive analyses on economic governance and regional cooperation. The publication is likely to be well-received by scholars and policymakers due to its strategic guidance and insights into the evolving global economic landscape.
Availability
The book is available in various formats, including eBook, through platforms like Barnes & Noble, Rakuten Kobo, and Google Books. It is also available as a PDF from the Asian Development Bank's website.
In summary, "Reshaping Global Economic Governance and the Role of Asia in the Group of Twenty (G20)" by the Asian Development Bank offers a strategic framework for Asian nations to engage effectively in global economic governance, emphasizing inclusivity, sustainability, and coordination. Its critical reception is likely positive due to the ADB's reputation for authoritative economic analysis.