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The
paper argues that the emergence of the
G-20 is a result of the financial crisis
of 2008. Its composition reflects a new
balance of power in the world. The role
of emerging markets, in particular China,
Brazil and India is increasing, whereas
the position of the West is relatively
weakened. In so far the G-20 is a historic
progress compared to the G-8. Nevertheless
the G-20 is still characterised by a democratic
deficit. The G-20 also aggravates the
marginalisation of the UN, thus weakening
democracy in the overall system of global
governance.
October
11, 2011.
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