Asia's Role In The Global Economic Architecture

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes the largest emerging economies, has established high-level international policy cooperation in this new setting. This paper argues that effective global economic governance will also require changes in key global organizations - such as the International Monetary Fund, World Bank, World Trade Organization, and the Financial Stability Board - and closer collaboration between global and regional organizations.