G-20 Economic Summit Preview

On April 2, leaders of
the world’s twenty largest economies will meet in London to work to restore stability, confidence
and craft a path forward for the world’s financial system.  This meeting
represents a prime opportunity for President Obama to demonstrate that he
understands what is at stake globally in this financial crisis. Can Obama
translate his popularity into a new US relationship with the world?  Will
the US approach this summit with a
willingness to take a realistic approach to global financial issues and their
root causes?  Will the US work cooperatively with others in
taking action to tackle those issues and simultaneously re-assert leadership in
crafting solutions?  Or will the April meeting result in more talk, financial
protectionism and a further shift of global intellectual and ideological
direction away from the US
and towards the European Union, Asia — or
elsewhere? 

In either case, it is
likely that significant structural changes to the global financial system will
be proposed, discussed and debated.  The big question is whether the Obama
administration recognizes how fragile the US seat at the head of the world’s financial
table has become and re-asserts US leadership on the way forward.  If
not, the next G-20 meeting could deteriorate into a “G-19 plus
one”.

Participants

Robert Hormats
Vice
Chairman, Goldman Sachs

Richard Medley
Chairman, Medley Global Advisors

Douglas Rediker
Director, Global Strategic Finance Initiative, New America
Foundation

• Rediker: Bold Action for the G20 Summit

Moderator

Steve
Coll
President, New
America
Foundation