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As a strategic partner of the WEF, PwC provides State of the Debate briefing papers on the themes and agenda set by the World Economic Forum for the Annual Meeting at Davos. Offered to participants that include relevant decision-makers from government, business and civil society, these papers are designed to help jumpstart a discussion to address global, regional and industry priorities shared by all stakeholders. The first meeting of heads of state of the G20 was held in Washington DC on November 15, 2008. This summit of the leaders of the world's largest developed and emerging economies, which together account for 90% of global GDP, was widely hailed as an historic event. It was brought about by the urgent need to react to the global financial crisis. But the summit was also a recognition of a major shift in global economic power. It has been widely argued for some time that the G7 is no longer "fit for purpose" as a vehicle for global governance, since its membership is restricted to North America, Western Europe and Japan. The creation of the G20, which dates back to 1999, rectified that reality-and this unprecedented meeting of G20 heads of state confirmed it. |
Contacts Sophie Lambin Mike Davies 
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