Global leaders say G20 should steer world economy

Leaders of the world´s richest countries are seeking to make the G20 a key body for global economic policy making. G20 members are meeting in Pittsburgh where they drafted a communiqué that calls on the G20 to set common guidelines for banking regulations, subsidies on fossil fuels and government spending deficits, amongst others.

The G20 includes rich countries like the US, France, Germany and Japan but also emerging economies such as India, Brazil and South Africa.  UK Prime Minister Gordon Brown yesterday told Reuters that the G20 will become “The world’s main economic governing council.”

But many economists say the decisions that affect millions of people will continue to be made in the IMF and the World Trade Organization.  FSRN spoke to Mark Weisbrot, he´s the co-director of the Center for Economic and Policy Research.