Mini‐lateralism Will Get Us Nowhere

The further we get from the crisis moment of the global financial meltdown in 2008–2009, the weaker the momentum to establish an effective system of global governance. Gordon Brown, the former prime minister of Great Britain who hosted the most successful G‐20 conclave in London at the apex of the crisis, laments the complacency that has taken over. With the scandalous departure of Dominique Strauss‐Kahn as head of the International Monetary Fund, a global debate has opened up over whether the emerging economies should have a greater voice in that institution. Nobel laureate Michael Spence comments.