New world economic order takes shape at G20

PITTSBURGH (Reuters) – The Group of 20 is set to become the premier coordinating body on global economic issues, reflecting a new world economic order in which emerging market countries like China are much more relevant, according to a draft communique.

Leaders of the G20 developed and developing nations also agreed to make the International Monetary Fund more representative by increasing the voting power of countries that have long been under-represented in the world financial body, said the draft G20 communique obtained by Reuters.

via SNAP ANALYSIS: New world economic order takes shape at G20 | U.S. | Reuters .

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