Another G20 summit convenes this week in Johannesburg, but the mood surrounding it says more than the agenda ever will. The forum was born not out of ideology but necessity. Its creation at the turn of the century followed the Asian financial crisis of 1997–98, when it became obvious that the global economy was too interconnected for a Western-only club like the G7 to manage shocks on its own.
The logic was straightforward. If crises were global, the responses also had to be global. The G20’s early ministerial meetings and the subsequent leaders’ summits reflected that pragmatism. The grouping brought together the most influential states from…
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