Publication

This paper argues that the collective capacity to manage interdependence through coordinated policy responses is inadequate. It demonstrates that there is a gap between the distribution of authority and of power, between legitimacy and efficiency. According to the authors, a new forum upgrading the existing G20 Finance Ministers' group to the level of prime ministers and presidents could effectively resolve key global issues. They stress that, because everything is interconnected, the leading role has to be taken by leaders, not individual cabinet ministers.